Thursday, October 16, 2008

Fears of deep global slowdown hit Asia stocks

Asian stocks fell as much as 9 per cent and oil prices dropped to a one-year low on Thursday after downbeat US economic data spread fears of a more protracted and sharp global slowdown than initially expected.

Optimism about the stabilization in money markets has been swept aside and widespread selling of global equities has resumed in earnest as the quarterly results season gets underway and reports filter in about sharp losses at funds. To read more, please, visit - The Economic Times

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1) Nobel winner Krugman says world recession likely

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