Morning Markets: Concerns over AIG hit global stock markets

Repercussions from the collapse of Lehman Brothers yesterday have been felt throughout markets around...

Repercussions from the collapse of Lehman Brothers yesterday have been felt throughout markets around the world. The S&P closed 4.71% down at 1192.7, while the Dow Jones index lost 4.42% and the Nasdaq closed 3.6% down at 2179.91. Speculation that insurance giant AIG could be the next to go under contributed to stock market woes. AIG saw its debt downgraded by the ratings agencies, which affected European markets, notably insurers. The DJ Stoxx 50 opened 2.05% down while the FTSE EuroFirst 300 recovered some of the ground lost after Monday’s announcement, falling 1.75% today after its ...