Latest News:  
Beijing   Light to moderate rain/Light rain    13 / 8 ℃  City Forecast

English>>China Business

Oil tumbles on fiscal cliff fears, European debt

(Xinhua)

10:04, November 08, 2012

NEW YORK, Nov. 7 (Xinhua) -- Crude prices tumbled Wednesday on fears of "fiscal cliff" in the U.S. and worsening European debt problems.

U.S. financial markets plunged Wednesday, with equities falling broadly as investors shifted focus to looming "fiscal cliff" in U. S. and euro zone crisis after U.S. election.

After Barack Obama was reelected as U.S. president on Tuesday, investors came back to concerns over the "fiscal cliff", caused by the 600-billion-U.S.-dollar tax increases and government spending cuts that would automatically kick in on Jan. 1.

Economists and business CEOs have been warning that "fiscal cliff" could trigger a recession, which cast shadow over the market.


【1】 【2】 【3】



Recommended Features:
[Special]'Made in China' Revisited From 'Made in China' to 'Created in China' A Journey to Cultural Renaissance
Gold collection issued to mark 'Year of Snake' China: A Fast-growing Force in IPR IPR in China: Local Roots Bearing Global Fruits
China Int'l Industry Fair opens in Shanghai Caofeidian coal wharf put into use Canton Fair wraps up on Sunday


Email|Print|Comments(Editor:李倩、马茜)

Leave your comment0 comments

  1. Name

  

Selections for you


  1. China's stealth fighter concept model

  2. PLA Macao Garrison finishes 13th rotation

  3. Unforgettable moments in Nov. (III)

  4. Flight test of unmanned aircrafts conducted

  5. First inter-blood-type liver transplant in China

  6. Harbin Autumn Automobile Exhibition

  7. Embroider best wishes on insoles in Shanxi

  8. China's rich people will reach to 280 million

Most Popular

Opinions

  1. Commentary: Hot money needs cooling
  2. Smart solutions for better city, better life
  3. China remains an 'engine' in global economy
  4. M&A of listed companies gaining steam
  5. Is 'culture' inferior to 'commercialization'?
  6. Chinese liquor makers "sober up" over bans
  7. Strength of Chinese culture lies in understanding
  8. Securing China's e-commerce growth
  9. Hammered ore prices threaten Chinese iron miners
  10. CNN Beijing chief: China's challenges, opportunities

What’s happening in China

Landmark building should respect the public's feeling

  1. Herders, sheep flock move to winter pasture
  2. First inter-blood-type liver transplant in China
  3. HIV patient to sue hospital over cancer op refusal
  4. Test in intelligent vehicle for food detection
  5. Smart card, dumb refund rules