GLOBAL STOCK MARKETS IN RETREAT

May 23, 2013

By Scott Walker

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The Tokyo stock market has suffered its biggest one-day loss in more than two years.

The Nikkei Index plunged 1,143 points, which is 7.3%.

The index retreated from recent 5-1/2 year highs because of rising ┬ábond yields, along with signs that China’s manufacturing sector is shrinking.

China is the world’s second biggest economy.

Other Asian markets tumbled as well. Hong Kong’s Hang Seng lost 2.5%.

And European markets have joined the retreat. Germany’s DAX is off more than 2%. London’s FTSE is lower by almost 2%.

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