Thread: Asian News

Asian stocks dive anew on U.S. recession fears
Asian stocks tumbled anew on Friday after the latest salvo of sour signals about the U.S. economy pummeled Wall Street, sending the benchmark S&P 500 sprawling 3 percent lower to a 15-month nadir. Fears about a possible recession in the United States, Asia's biggest export market, also sent government bond surging to multi-year highs and pushed U.S. crude oil prices below $90 a barrel. The dollar struggled near a 2- year low against the yen after U.S. Federal Reserve Chairman Ben Bernanke told lawmakers that more interest rate cuts may be needed to counter a worsening economic outlook.
http://news.yahoo.com/s/nm/20080118/...oyN3wtniME1vAI