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Wednesday, August 10, 2011
South Korean stock broker jumps to death off building after heavy financial losses
A South Korean stock broker jumped to his death from an apartment building after suffering massive losses in the global financial panic, police said.
South Korean investigators said Wednesday that the 48-year-old man, identified only by his last name, Seo, sent his coworkers remorseful text messages just moments before the high-rise death dive.
Chief investigator Lee Kang-ho said the texts also included an apology to his clients.
No suicide note was found. The fatal leap took place in the southeastern city of Daegu.
South Korean stocks have plummeted sharply amid the global economic pandemic set off by the S&P's first-ever downgrade of U.S. credit on Monday.
U.S. stocks declined sharply again on Wednesday, one day after a frenzied bout of trading pushed the Dow to close up 430 points.
After the opening bell on Wednesday, the Dow Jones industrial average was down about 400 points, nearly 4%. The Standard & Poor’s 500 and the Nasdaq Composite both fell more than 3%.
Tuesday's wild roller-coaster ride came after the Federal Reserve offered a gloomy picture of the economy and announced that it would leave interest rates near zero.
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