Manila - Philippine shares dropped by 4.63 per cent on Thursday as scared investors sold their stocks amid unabated decline in the Wall Street.

Sydney - Investors sold Australian stocks at the opening bell

Washington - Wall Street indices tumbled again Wednesday as US investors reacted to a series of depressing earnings reports that offered more signs of a sharp economic downturn in the United States and abroad.

The Standard & Poor's 500 dropped 6.1 per cent and hit its lowest level since April 2003. That followed market slides in Asia and Europe, where the blue-chip Stoxx 50 index dropped 5 per cent in late trading as concerns set in about the outlook for the global economy and profits.

Washington - Wall Street indices continued their decline in midday trading Wednesday, adding to the gloomy mood on European markets as US investors reacted to depressed earnings reports.

Wall Street opened down 2.5 per cent and stocks slid in Asia, Europe's blue-chip Stoxx 50 index dropped 5 per cent to 2235 in late trading as concerns set in about the outlook for the global economy and profits.

Amman - Arab stock markets plummeted across the board on Wednesday on reports of a nearing global recession and ambiguity regarding the extent to which regional businesses were involved in the world financial crisis, financial analysts said.

The Tadawul All Share Index (TASI) of the Saudi stock exchange, the Arab world's largest bourse, fell 3.69 per cent, led by the Saudi Basic Industries Corp. (SABIC) and the banking sector.

The dropg brought to more than 10 per cent the decline in the Saudi market this week, a loss that wiped out last week's gains.

Paris - Following big losses on Asian markets overnight and a weak performance on Wall Street, French shares closed sharply lower on Wednesday.

The Paris Bourse's benchmark CAC 40 ended the session down 5.1 per cent, to 3,298.18, with only one of its 40 listed stocks gaining ground.

Drinks giant Pernod Ricard led the declining issues, giving up 13.62 per cent, to 42.26 euros.

Industrials were the hardest-hit sector, with transport manufacturer Alstom losing 12.84 per cent, to 38.60 euros, and steel-makers ArcelorMittal and Vallourec off by 10.06 and 9.81 per cent to, respectively, 19.26 euros and 79.45 euros.