Nov 23 2010 1:45PM
North Korea has bombarded a South Korean island with artillery shells, injuring civilians and soldiers and setting more than 60 properties ablaze. The attack, which comes days after it emerged that North Korea was pressing ahead with its illegal nuclear programme, marks a serious further escalation of tensions on the Korean Peninsular.
Markets freefall
The impact of tensions between North and South Korea was felt internationally, with US 10-year Treasury futures rising and the Japanese yen falling.
The major Asian markets too closed on a weak note. Hang Seng fell more than 600 points to close at 22888, while Shanghai Composite and Straits Times fell more than 50 points.
European markets also felt the heat with The FTSE down by more than 50 points at 5680, CAC is trading down by 25 points at 3786, DAX is down more than 20 points at 6822.
Indian markets too witnessed a sharp-fall as North Korea fired dozens artillery shells on South Korean island. At 1.15 pm, the Sensex fell more than 500 points to 19363 at whereas Nifty touched 5825.
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