BSE: Markets shaken and dollar tumbles to a record low
Your support helps us to tell the story
From reproductive rights to climate change to Big Tech, The Independent is on the ground when the story is developing. Whether it's investigating the financials of Elon Musk's pro-Trump PAC or producing our latest documentary, 'The A Word', which shines a light on the American women fighting for reproductive rights, we know how important it is to parse out the facts from the messaging.
At such a critical moment in US history, we need reporters on the ground. Your donation allows us to keep sending journalists to speak to both sides of the story.
The Independent is trusted by Americans across the entire political spectrum. And unlike many other quality news outlets, we choose not to lock Americans out of our reporting and analysis with paywalls. We believe quality journalism should be available to everyone, paid for by those who can afford it.
Your support makes all the difference.The infection of a single cow with BSE had massive ramifications across already jittery financial markets.
Fears of an outbreak of BSE rocked US financial, grain and livestock markets. The dollar tumbled to an all-time low against the euro, and the stock market fell as shares in restaurants and food companies sank.
"Mad cow[disease] really put a bad taste in everyone's mouth," said Peter Dunay, chief market and options strategist at Wall St Access. The euro rose to $1.2470 against the dollar as confidence in the greenback was knocked by the BSE developments as well as mounting fears of an imminent terrorist attack and unexpectedly grim news on the economy.
McDonald's shares were among the hardest hit by the BSE scare, losing 5.2 per cent. In the UK, however, shares in Protherics rose 6 per cent. It receives royalties from the sale of BSE kits.
Join our commenting forum
Join thought-provoking conversations, follow other Independent readers and see their replies
0Comments