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Japanese index falls more the european 7%
both the european central bank and the bank of england are expected to announce interest rate cuts later .
'more needed' the drops came despite cuts in interest rates by many central banks, in an attempt to boost consumer spending and business activity and avoid a prolonged slowdown .
on thursday, both toyota and isuzu motors slashed annual profit forecasts, providing a further reminder of the weakness of the global economy .
'back to rearlity' figures releashed on wednesday showed retail sales fell in the eurozone during september, while us figures indicated that the service sector suffered a sharper-than-expected drop in activity during october .
in new york, the dow jones index closed almost 5.2% down while london, paris and frankfurt suffered substantional losses .
earlier in a sia, japan's nikkei index had closed slowdown 6.5% while hong kong's hang seng dropped 7.1% .
Generated 2008-11-9_14:16
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