Tuesday, 22 January 2008

Global Markets Plunge on U.S. Recession Fears

Stocks fell sharply worldwide Monday following declines on Wall Street last week amid investor pessimism over the U.S. government's stimulus plan to prevent a recession.

A lot of financial institutions- superfunds, insurers, bond dealers etc- are up to their necks in this crisis. We should see a continuation of the stockmarket sell offs, bankruptcies, rising joblessness and a whole lot more in the coming months. The only question is how bad the disaster will be.

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