澳洲新闻 (ABC新闻快递) 2009-11-28（在线收听）

US stocks have dropped on concerns that Dubai's debt crisis could stall the global economic recovery from recession. The government-owned Dubai World has around 60 billion US dollars worth of debt. It’s asked creditors if it can postpone repayment until May, raising concerns that some banks could further tighten lending. The shock news of Dubai's debt problems rattled markets.

In an abbreviated session, the Dow closed 1.5 percent lower. Investors mainly got rid of financial and commodity stocks. Europe's leading stocks indexes closed higher on Friday, reversing sharp losses. London's FTSE closed one percent higher after suffering its biggest daily fall on Thursday.

Alarm over Dubai sent Asian shares plummeting at the end of the week. Hong Kong tumbled nearly five percent, due to investors' dump stocks in two foreign banks with the highest exposure to Dubai, HSBC and Standard Chartered. The Nikkei dropped three percent. The local market is expected to open lower on Monday, it staged its biggest one-day fall in five months, to close 2.9 percent down on Friday. And the Australian dollar has lost ground against the majors.

And that’s ABC Business News.