US stocks plunged to five and a half year lows Wednesday after data revealed a sharp deterioration in the world`s largest economy and the Federal Reserve admitted the risk of a long recession.

The Dow Jones Industrial Average tumbled 427.47 points (5.07 percent) to finish at 7,997.28. It was the first time the blue-chip index closed below 8,000 since March 31, 2003.

US stocks sank Wednesday after gloomy data underlined the deepening troubles in the world`s largest economy, with the Federal Reserve admitting the potential for a long recession.

The Dow Jones Industrial Average dropped 427.63 points (5.08 percent) to 7,997.12 at the market close and the tech-heavy Nasdaq skidded 93.85 points (6.33 percent) to 1,389.42.

European stock markets closed sharply lower Wednesday with losses of four percent and more after much worse-than-expected US inflation and housing data hit already weak sentiment.

In London, the FTSE 100 index of leading shares fell 4.82 percent to 4,005,68 points.

Polls closed in Guinea Bissau`s parliamentary elections on Sunday with international observers hoping the vote will boost stability in the impoverished west African nation.

Polling stations officially closed at 5:00 pm (1700 GMT) while some that opened late allowed some voters to cast their ballots for the 100-seat parliament a little after the deadline.

PRISTINA, Serbia, Nov 17, 2007 (AFP) - Polling ended Saturday in crucial Kosovo elections to elect a government majority that Albanians hope will lead the troubled Serbian province to independence.

After more than 12 hours of voting, booths were officially shut at 7:00 pm (1800 GMT), but some remained open to accommodate queuing voters, Organisation for Security and Cooperation in Europe (OSCE) spokesman Sven Lindolm told AFP.

HONG KONG, Oct 22, 2007 (AFP) - Hong Kong share prices closed sharply down Monday, with the benchmark Hang Seng Index losing 3.7 percent on the day, dealers said.

They said shares were down as markets across Asia fell after a major decline on Wall Street on Friday, blamed on lacklustre corporate earnings and rising crude prices.

Investors here locked in recent gains after rapid growth in the past two months, they added.

SHANGHAI, Oct 22, 2007 (AFP) - Chinese share prices closed 2.59 percent lower Monday, amid weakness in regional markets following Wall Street's plunge in the previous session, dealers said.

They said that although China's capital markets had a relatively small portion of foreign investment, the sharp decline on US bourses on Friday hurt dual-listed Chinese firms in Hong Kong, which also fell sharply Monday.

SYDNEY, Oct 22, 2007 (AFP) - Australian share prices closed down 1.9 percent Monday as investors fretted about the possibility of a further sell-off on Wall Street, dealers said.

The benchmark S&P/ASX 200 closed down 129.0 points at 6,577.3, while the broader All Ordinaries index fell 131.2 points to 6,592.1.

Volume traded was 2.88 billion shares worth about 7.0 billion dollars (6.25 billion US). Decliners outstripped gainers 1,638 to 241, with 289 stocks unchanged.

TOKYO, Oct 22, 2007 (AFP) - Japanese share prices closed down 2.24 percent on Monday at a near one-month low, hit by a slump on Wall Street Friday and a stronger yen which is bad for exporters, dealers said.

But they said shares managed to finish off their lows of the day after heavy early losses.

The Tokyo Stock Exchange's benchmark Nikkei-225 index of leading shares fell 375.90 points to 16,438.47, the lowest closing level since September 26.

The broader Topix index of all first-section shares lost 28.21 points or 1.77 percent to 1,563.07.

LJUBLJANA, Oct 21, 2007 (AFP) - Slovenia's presidential election Sunday will go into a run-off next month with the centre-right government's candidate Lojze Peterle sure to feature in a second round vote, accordiing to exit polls announced by public television.

Peterle won 27.44 percent of the vote in the first round Sunday followed by the centre-left former central bank governor Mitja Gaspari with 25.63 percent, according to the exit poll results carried by state television.

ANKARA, Oct 21, 2007 (AFP) - Vote counting has begun across Turkey as polls closed in Sunday's referendum on constitutional reforms that would provide for the election of the president by popular vote.

The polling stations, which had opened at 7:00 a.m. (0400 GMT) in the east of the country and an hour later in the west of the country, closed at 5:00 pm (1400 GMT).

No results or projections can be given before 9:00 pm (1800 GMT) by order of the Electoral Council, which organizes elections in Turkey.

GENEVA, Oct 21, 2007 (AFP) - Polls closed in Switzerland's general elections on Sunday after a bitter campaign marked by a riot and charges of racism levelled against the biggest party, the far-right Swiss People's Party's (SVP)

The first results from smaller constituencies were expected during the afternoon, with a first nationwide estimate by Swiss television due at 7.00 pm (1700 GMT).

A relatively strong turnout of about 50 percent of the 4.9 million voters was expected in the election for the 200 seats in the lower house, the National Council.

NEW YORK, Oct 19, 2007 (AFP) - Wall Street shares took a dive Friday as fresh worries about the outlook for the economy and earnings heightened skittishness on the 20th anniversary of the New York market crash.

The Dow Jones Industrial Average plummeted 366.94 points (2.64 percent) to end at 13,522.02 and the tech-heavy Nasdaq sank 74.15 points (2.65 percent) to 2,725.16.

The broad-market Standard & Poor's 500 index plummeted 39.45 points (2.56 percent) to 1,500.63.

NEW YORK, Oct 19, 2007 (AFP) - Wall Street plunged Friday as heightened worries about the outlook for the economy and corporate earnings exacerbated skittishness over the 20th anniversary of the New York market crash.

The Dow Jones Industrial Average plummeted 2.69 percent to 13,515.76 and the Nasdaq sank 2.62 percent to 2,726.00 at the closing bell.

The broad-market Standard & Poor's 500 index plummeted 2.58 percent to a preliminary close of 1,500.33.

LONDON, Oct 19, 2007 (AFP) - European share prices closed lower again Friday, extending losses amid persistent concerns about the impact of record oil prices and a stronger euro will have on the economic outlook, dealers said.

London's FTSE 100 index lost 1.23 percent to 6,527.90 points while in Paris the CAC 40 shed 0.46 percent at 5,740.48 points and Frankfurt's DAX fell 0.47 percent to 7,884.12.

MUMBAI, Oct 20, 2007 (AFP) - Indian share prices slid 2.44 percent in volatile trade on Friday as investors chose to unwind positions fearing sharper falls on concerns over capital flow controls, dealers said.

They said the markets could drop further until clarity emerges on a derivatives regulatory proposal on participatory notes.

The benchmark Sensex index closed 438.41 points down to 17,559.98, off the day's low of 17,226.18.

SHANGHAI, Oct 19, 2007 (AFP) - Chinese share prices closed 0.12 percent lower Friday amid lingering fears about a government plan to allow mainland investors to buy stocks in Hong Kong, dealers said.

They said low volumes led to volatile trade as the Shanghai index rose and fell with steel stocks leading the decline amid additional anxieties over sky-high valuations even after Thursday's decline of 3.5 percent.

SYDNEY, Oct 19, 2007 (AFP) - Australian share prices closed down 0.9 percent on Friday as investors locked in gains on the 20th anniversary of the 1987 stock market crash, dealers said.

The benchmark S&P/ASX 200 index closed down 61.4 points at 6,706.3, while the broader All Ordinaries index fell 57.7 points to 6,723.3.

TOKYO, Oct 19, 2007 (AFP) - Japanese share prices closed down 1.71 percent on Friday at a three-week low, hit by worries about a stronger yen and the impact of a credit market squeeze on US banks, dealers said.

They said the benchmark Nikkei index sank back below the key 17,000 points level as the rising yen dimmed the outlook for exporter earnings. Record high oil prices and a profit slump at Bank of America also weighed on sentiment.

NEW YORK, Oct 18, 2007 (AFP) - Wall Street shares ended mixed Thursday in choppy trade as earnings season continued apace with the Bank of America disclosing its latest profits fell a sharp 32 percent, largely due to investment losses.

The Dow Jones Industrial Average finished down 3.58 points (0.03 percent) at 13,888.96 at the closing bell.

The tech-heavy Nasdaq composite rose 6.64 points (0.24 percent) to 2,799.31 while broad-market Standard & Poor's 500 index lost 1.17 points (0.08 percent) to a preliminary close of 1,540.07.

MUMBAI, Oct 18, 2007 (AFP) - Indian share prices closed 3.83 percent lower on Thursday over continuing concern about a regulatory proposal to restrict purchases by foreign investors, dealers said.

They said speculation that investors would avoid Indian stocks over the proposal led to a sell-off in the final 30 minutes of trade.

The Sensex index in Mumbai fell 717.43 points to 17,998.39.

The benchmark slid 9.15 percent early Wednesday but recovered to close down 1.76 percent after officials moved to try and reassure investors.

SHANGHAI, Oct 18, 2007 (AFP) - Chinese share prices closed 3.50 percent lower Thursday on fears the government would try to cool the heated market and plans to allow mainland investors to buy Hong Kong stocks, dealers said.

The benchmark Shanghai Composite Index, which covers both A and B shares, ended the morning down 211.00 points at 5,825.28.

The Shanghai A-share Index fell 222.11 points or 3.50 percent to 6,114.95

SYDNEY, Oct 18, 2007 (AFP) - Australian shares closed up 1.3 percent on Thursday, led by gains in the big banks and resources giants BHP Billiton and Rio Tinto, dealers said.

The benchmark S&P/ASX 200 gained 87.6 points or 1.3 percent to close at 6,767.7, while the broader All Ordinaries closed at a new record of 6,781, up 84.9 points or 1.3 percent.

NEW YORK, Oct 17, 2007 (AFP) - Wall Street ended mixed in a volatile session Wednesday as an early rally fueled by upbeat earnings reports faded amid heightened concerns about a possible Turkish incursion against Kurds in Iraq.

The main indexes opened stronger then moved sharply lower before ending the session mixed, with the tech sector notably higher.

The Dow Jones Industrial Average was down 18.86 points (0.14 percent) to 13,894.08 at the closing bell in the third consecutive loss for the blue-chip index.

LONDON, Oct 17, 2007 (AFP) - European share prices closed higher Wednesday, recovering some recent lost ground, with the London FTSE 100 index up 0.96 percent at 6,677.70 points.

In Paris, the CAC 40 index rose 0.77 percent to 5.818,80 points while Frankfurt's DAX put on 0.29 percent to 7,985.41 points.

MUMBAI, Oct 17, 2007 (AFP) - Indian share prices closed down 1.76 percent Wednesday after recovering from a plunge of more than nine percent caused by a regulatory proposal to restrict buying by foreign investors, dealers said.

Finance Minister P. Chidambaram's said the proposal involved a limited restriction, rather a ban, on particpatory notes, which allow foreign investors to buy Indian shares anonymously.

MUMBAI, Oct 17, 2007 (AFP) - Indian share prices closed down 1.76 percent on Wednesday, recovering from an early dive of more than nine percent on a proposal to limit buying by overseas investors, dealers said.

They said an assurance by Finance Minister P. Chidambaram that the move would be limited and not a ban on the use of so-called particpatory notes allowed the market to recover from a drop of 9.15 percent minutes after opening that led to a one-hour halt in trading.

HONG KONG, Oct 17, 2007 (AFP) - Hong Kong share prices closed higher Wednesday, up 1.19 percent, as China Mobile, banking stocks and local property developers helped the market recover from morning losses, dealers said.

Investors locked in profits initially following falls on US markets and concerns over record oil prices, they added.

But the market regained confidence towards the close on the view that ample liquidity and strong corporate earnings will continue to power the local bourse.

SHANGHAI, Oct 17, 2007 (AFP) - Chinese share prices closed 0.92 percent lower Wednesday on profit-taking after the record-breaking runs of the last two sessions, dealers said.

They said the banking sector was hit by news that China's central bank had intensified its campaign to curb excessive liquidity by ordering selected smaller lenders to set aside money with the central bank as special deposits.

SYDNEY, Oct 17, 2007 (AFP) - Australian shares closed down 0.2 percent on Wednesday after Wall Street weakness overnight and falls in the key mining sector amid poor coal production figures from Rio Tinto, dealers said.

The benchmark S&P/ASX 200 index closed down 11.9 points or 0.2 percent at 6,680.1, while the broader All Ordinaries closed down 15.2 points or 0.2 percent at 6,696.1.

TOKYO, Oct 17, 2007 (AFP) - Japanese share prices closed down 1.07 percent on Wednesday, ending below the key 17,000 points level for the first time in over two weeks amid renewed nervousness on global markets, dealers said.

Sentiment was hurt for the second straight session by falls on Wall Street, where investors were unnerved by soaring oil prices and concerns about the fallout from problems in the US mortgage sector, they said.

The Tokyo Stock Exchange's benchmark Nikkei-225 index of leading shares fell 182.61 points to 16,955.31, the lowest close since October 1.

NEW YORK, Oct 15, 2007 (AFP) - US stocks took a beating Monday as oil prices leapt to record highs and a weak earnings report from Citigroup opened a flood of quarterly results this week.

The Dow Jones Industrial Average tumbled 105.92 points (0.75 percent) to 13,987.16 and the Nasdaq composite slid 25.63 points (0.91 percent) to 2,780.05 at the closing bell.

The broad-market Standard & Poor's 500 index fell 12.49 points (0.80 percent) to a preliminary close of 1,549.30.

MUMBAI, Oct 15, 2007 (AFP) - India's benchmark index surged 3.47 percent to a fresh record close above 19,000 points on Monday led by overseas funds and hopes for lower domestic interest rates, dealers said.

They said a series of record highs on the Mumbai stock exchange, during a 3,000-point climb in less than a month, comes ahead of a central bank review of monetary policy at the end of October and record investment by overseas funds.

The Sensex index rose 639.63 points to 19,058.67.

SHANGHAI, Oct 15, 2007 (AFP) - Chinese share prices jumped 2.15 percent Monday to close above the key psychological level of 6,000 points for the first time, dealers said.

They said the market took its lead from the opening of the 17th Communist Party Congress, the most important political event in China in five years.

President Hu Jintao said in a keynote speech that the nation needed to improve the structure of China's unbalanced economy and address its booming capital markets.

SYDNEY, Oct 15, 2007 (AFP) - Australian shares closed down 0.2 percent on Monday as investors took profits although market heavyweight BHP Billiton closed at a record high, dealers said.

The benchmark S&P/ASX 200 index closed down 9.9 points or 0.2 percent to close at 6,739.0 while the broader All Ordinaries closed down 0.1 percent or 8.5 points at 6,751.6 points.

TOKYO, Oct 15, 2007 (AFP) - Japanese share prices closed narrowly mixed on Monday as investors refrained from aggressive buying ahead of upcoming US and domestic corporate results, dealers said.

They said the market mood was cautious despite solid gains seen Friday on Wall Street after US retail sales grew more than expected.

The Tokyo Stock Exchange's benchmark Nikkei-225 index of leading shares gained 26.98 points or 0.16 percent to 17,358.15.

The broader Topix index of all first-section shares dipped 2.04 points or 0.12 percent to 1,657.44.

NEW YORK, Oct 12, 2007 (AFP) - US stock markets notched up solid gains Friday after General Electric's earnings met expectations and as retail sales showed signs of improvement despite housing and mortgage woes.

The Dow Jones Industrial Average ended up 77.63 points (0.55 percent) at a preliminary close of 14,092.75 at the closing bell, hovering close to record highs.

Technology stocks rallied as the Nasdaq finished up 33.48 points (1.21 percent) at 2,805.68.

The broad-market Standard & Poor's 500 ended up 7.36 points (0.47 percent) at 1,561.77.

HONG KONG, Oct 12, 2007 (AFP) - Hong Kong share prices closed down 1.01 percent Friday, as investors locked in profits amid speculation that China might announce new measures to cool its economy, dealers said.

Mainland financials and property counters were hit by talk that China may raise interest rates, while China Mobile, China Unicom and China Life Insurance tracked falls in their American Depositary Receipts in the United States.

SHANGHAI, Oct 12, 2007 (AFP) - Chinese share prices closed 0.17 percent lower Friday as the market was hit by profit-taking after touching a new intraday record high, dealers said.

They said the benchmark Shanghai Composite Index saw strong resistance near the key psychological 6,000-points level after a series of record high finishes throughout the week.

The benchmark Shanghai Composite Index ended the day down 9.97 points at 5,903.26 after hitting a new intraday record of 5,959.36.

SYDNEY, Oct 12, 2007 (AFP) - Australian shares closed down 0.3 percent Friday as investors locked in gains after a four-day winning streak which propelled the key market indices to record highs, dealers said.

The benchmark S&P/ASX 200 closed down 23.0 points at 6,748.9, while the broader All Ordinaries index ended down 19.5 points at 6,760.1.

Volume traded was a relatively light 1.86 billion shares worth about 5.6 billion dollars (5.0 billion US). Gainers outstripped decliners 647 to 636 with 348 stocks unchanged.

TOKYO, Oct 12, 2007 (AFP) - Japanese share prices closed down 0.73 percent on Friday as investors pocketed gains a day after the market hit the highest level for over two months, dealers said.

They said modest losses overnight on Wall Street added to the cautious mood here ahead of the weekend.

The Tokyo Stock Exchange's benchmark Nikkei-225 index of leading shares lost 127.81 points to 17,331.17.

The broader Topix index of all first-section shares dipped 18.04 points or 1.08 percent to 1,659.48.

NEW YORK, Oct 11, 2007 (AFP) - US stock markets closed lower Thursday after earlier notching up intraday record highs as invest