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Rebound a Dud--Stocks in Europe Take a Nose-Dive

October 22, 1987|From Reuters

LONDON — European stocks went back into a nose-dive today, losing much of their gain of the last two days as renewed fears from Monday's panic once again hit prices.

The rebound that helped Wall Street on Wednesday claw back over half of Monday's record 508-point plunge began to lose momentum in Asian trading today. Stock markets in Tokyo and Sydney closed just marginally higher.

Tokyo's index gained more than 1,000 points before falling to close up only 457.05 points or 1.9%.

Kuwait then reported an Iranian missile hit an oil installation, raising fears of a wider conflict in the Persian Gulf.

London, Frankfurt, Paris, Milan, Brussels, Zurich and Amsterdam all ended the day lower, although some, including London, closed above the day's worst showings.

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