Amsterdam AEX reaches lowest level in 16 months
The main index on the Amsterdam exchange AEX reached its lowest level in 16 months Tuesday, dropping sharply after Wall Street opened.
The index closed at 470.54 points, down 2.93 per cent compared with the opening and 8.77 per cent lower than closing time on December 31. It was the lowest level since September 2006.
Earlier in the day, a few companies were still managing to show a profit, but after the negative opening of Wall Street, shares of all funds listed on the AEX index went into the red.
The AEX index has been dropping continuously since January 2, when it stood at 518.27 points.
Dutch analysts have predicted a lower growth of the national economy for 2008. The global credit crisis also appears to be having its effect on the sentiment of Dutch investors and consumers.
A poll conducted by the Dutch umbrella organisation for real estate agents VBO published on Tuesday said most Dutch nationals are pessimistic about home sales and real estate prices.
A large majority expects private residences to be on sale for longer periods of time. Sellers fear they will be forced to settle for lower sale prices. ( Dpa )