Dow Jones And Nasdaq Corrected Sharply

On friday's trading session, both Dow Jones And Nasdaq Corrected Sharply due to continued concerns over US economic slowdown, huge impact of subprime mess on economic growth and credit markets as well as on consumer spending, also aiding the fall was high food and energy prices, also with investors prefering to invest in alternate investment destinations like India, China, South Korea, HongKong, Thailand, Malaysia, Brazil, Russia. Crude oil retreated after touching the US$100/Barrel mark, but is still in the long term upward trend. Gold prices too are trading higher due to sharp depreciation in the value of US dollar against the Yen. Japanese stock markets too corrected sharply on friday due to sharp rise in yen against the dollar, continued sluggishness in the exports market. World economic growth faces significant challanges in 2008 due to credit crunch across the major economies of the world. However, emerging economies still are growing at a healthy pace and thus will find favour among investors.