As America sneezes WSE catches a cold

Yesterday was another day of heavy loses and the WIG closed 3.59% down. Since the beginning of the year the value of companies listed on the bourse in Warsaw fell by zł.107 billion. However, analysts emphasize that the falls on the bourse will not last for long. "The foundations of the Polish economy have not changed and they remain strong," said Jacek Tyszko of DM BOŚ. The panic and falling prices were mainly caused by the situation in the US, where Alan Greenspan announced that America has already entered, or will soon enter recession. Several hours later representatives of Citigroup revealed a Q4 net loss of $9.8 billion, double the forecasted figure. (Rzeczpospolita, p. B1; Dziennik, The Wall Street Journal Supplement, p. 1; Puls Biznesu, p. 1) A.K.