European gains capped by Wall Street (AP)

A man stops and takes a look at an electric market board in Tokyo, Thursday Oct. 30, 2008. Asian stock markets rallied Thursday, led by a 12 percent jump in South Korea, after the U.S. Federal Reserve slashed interest rates to help revive the world's largest economy and opened new credit lines with central banks. Every major index advanced, with Japan's Nikkei 225 stock average gaining 8.4 percent to 8,897.19 as exporters like Toyota and Sony got a boost from the yen continuing to retreat from a 13-year high against the dollar last week. (AP Photo/Katsumi Kasahara)AP - European markets closed only modestly higher Thursday as Wall Street gave up most of its early gains as fears grew about the depth and length of the recession in the U.S. Asian shares were strongly up earlier.

AP

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  • Euro down against dollar on US economy report (AP)