Big Losses on Foreign Stock Exchanges

The U.S. stock markets are closed today for the Martin Luther King holiday, but world markets have taken very large hits on fears that the American economy is weakening. U.S. futures are sharply lower, foreshadowing a major decline when the market reopens Tuesday. Here’s a summary of the percentage losses on major overseas exchanges:

• India (Bombay Sensitive Index), off 7.4 percent
• Singapore (Straits Times), down 6.1 percent
• Hong Kong (Hang Seng), 5.5 percent lower
• China (Shanghai Composite), down 5.1 percent
• Germany (DAX), 5.3 percent lower
• France (CAC), off 4.3 percent
• United Kingdom (FTSE 100), down 3.7 percent

See coverage alsewhere at MarketWatch, CNBC and CNN.