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This 3 page paper illustrates the connection between business and international affairs by exploring the global impact of the Wall Street meltdown. Bibliography lists 3 sources.
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3 pages (~225 words per page)
File: D0_HVglwall.rtf
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collapse has had around the world and argues that this illustrates the connection between business and international affairs. Discussion The effect of the Wall Street collapse is being felt throughout
the globe, and illustrates the way in which business and international affairs have become enmeshed. Writing ten days ago (October 10, 2008), Peter Symonds noted that the economic crisis was
entering a new phase, "spreading from the financial system to the productive foundations of the economy" (Symonds, 2008). Shares were falling not only in the banking and insurance industries, but
also in the "industrial sector, including icons of American capitalism such as General Motors and Ford" (Symonds, 2008). On the 10th, the "highly volatile" day ended with an hour
of panic selling (Symonds, 2008). The Dow closed at 8,579, "down 679 points, or 7.3 percent," the worst performance since 2003 (Symonds, 2008). Standard & Poors 500 Index fell by
7.6% and closed at 910, and the Nasdaq Composite Index fell 5.6% to 1,645; "900 billion in value was wiped off US shares" (Symonds, 2008). Analysts compare this failure to
the "October 19, 1987 collapse that wiped 20.5 percent off of the S&P index" (Symonds, 2008). GM stocks plunged 31% to $4.76, "the lowest level since 1950. Ford shares plunged
by 22 percent" (Symonds, 2008). Similar losses were recorded in other sectors: Alcoa lost 15.3% and GE lost 7.9% and was expected to fall further (Symonds, 2008) The US auto
companies problems are taking place "amid a shrinking global market. GM reported an overall downturn in sales in Europe on Wednesday for the first nine months of the year" (Symonds,
2008). Both GM and Ford are facing the possibility of bankruptcy (Symonds, 2008). They will obviously do everything they can to avoid this eventuality, but its possible they will be
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