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Global stocks see sharp declines BBC European shares have fallen sharply in Monday morning trading, mirroring earlier falls in East Asia as worries about the US economy continue. London's FTSE 100 index was down 85 points or 1.3% by 1045 BST, while Frankfurt's Dax had lost 1.2% and Paris' Cac had fallen 1.7%. Earlier, Tokyo's Nikkei index had closed 2.2% lower. European and East Asian markets were responding to heavy US share falls on Wall Street on Friday.
Caterpillar warning The Dow Jones, the main US share index, fell 367 points on Friday, the 20th anniversary of the Black Monday stock market crash. The falls were set off by concerns that the full effects of the US housing slowdown have not yet been seen. It started when the building equipment firm Caterpillar cut its profit forecast, blaming the state of the economy. Caterpillar added that the US economy will be "near to, or even in, recession" next year.
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