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As the crisis spread, other Southeast Asian countries and later Japan and South Korea saw slumping currencies, devalued stock markets and other asset prices, and a precipitous rise in private debt. [ 3 ] [ 4 ] Foreign debt-to-GDP ratios rose from 100% to 167% in the four large Association of Southeast Asian Nations (ASEAN) economies in 1993 ...
Taiwan announced billions of dollars in spending and tax cuts due to declining growth and a 26 percent slump in the stock market in 2008. [8] The bankruptcy of Lehman Brothers raised concerns about global exposure to the assets and stock of Lehman Brothers and the potential for the bankruptcy to cause further tightening of credit. Taiwan ...
The Nasdaq Composite fell 7%, or 115.41, to 1,535.51. The S&P 500 fell 64.63, or 6.86%, to 877.01. Several stock market analysts saw this crash as a "correction" to the overheated markets, which had doubled in value in 30 months. This crash put the Dow down 13.3% from its then-record high of 8,259.31 on August 6, but it still gained for the year.
Getty Images/Image Source In 1602, the Dutch East India Co. established the Amsterdam Bourse, now recognized as the world's oldest stock exchange. However, it wasn't until 1720 that the first ...
South Africa entered recession as the global crisis pounded demand for its main exports; GDP shrank 6.4% in the first quarter of 2009 after falling 1.8% in the last quarter of 2008. This is the first recession for South Africa in 17 years. According to forecasts, the South African domestic product is likely to shrink between 1% and 1.5% in 2009 ...
Economic collapse, also called economic meltdown, is any of a broad range of poor economic conditions, ranging from a severe, prolonged depression with high bankruptcy rates and high unemployment (such as the Great Depression of the 1930s), to a breakdown in normal commerce caused by hyperinflation (such as in Weimar Germany in the 1920s), or even an economically caused sharp rise in the death ...
The last one, the Great Depression, technically ran from October 1929 to 1933, but the U.S.’s economy didn’t recover until around 1939. During the Great Depression, GDP dropped by 30% and 25% ...
Indian economic crash of 1865; Panic of 1866, was an international financial downturn that accompanied the failure of Overend, Gurney and Company in London; Great depression of British agriculture (1873–1896) Long Depression (1873–1896) Panic of 1873, a US recession with bank failures, followed by a four-year depression; Depression of 1882 ...