Warsaw - The Warsaw Stock Exchange (WIG) saw a major 6.7 per cent plunge Thursday, following the current sharp downturn in trading on global markets. Polish market analysts said the dive was rooted in the global panic linked to the mortgage crisis in the US and European property markets.
Panic struck exchanges across the globe following recent interventions by the US Federal Bank and the European Central Bank to ease the impact of the crisis.
Polish analyst agree this has served only to postpone, or perhaps even intensify it.
"Giving money to companies which are having problems clouds the picture because we don't know who really has problems," analyst with the Warsaw-based IDM SA firm Leszek Milczarek said Thursday.
