KARACHI: Today, all stock markets of the world were under severe recession while trading was stopped in the stock exchanges of Russia and Ireland.

Severe recession was seen in all stock exchanges of the world as no agreement has reached regarding the package of monetary aid in Europe.

Trading was stopped after a decline of 15 per cent in the stock exchange of Russia while trading was suspended in banks and other financial institutions due to severe recession in index of Ireland also.

Today, decline was recorded 4.3 per cent in Japan’s Nokai stocks and five per cent in Singapore and Indian stock exchanges.

This recession was also witnessed in European stocks and a decline of 5.6 per cent was seen in British Fantasy 100 index while 5.5 per cent Dax index fell in Germany and 6 per cent decline was recorded in CAC index of Paris.