Friday, August 10, 2007

Central bankers take action as the rout in global markets deepens (International Herald Tribune)

The U.S. Federal Reserve, the European Central Bank and central banks around Asia began adding more cash to money markets Friday to stave off a credit crunch, as widening fears over losses in the U.S. housing loan market prompted investors to sell assets and commercial banks to reel in credit lines. Most major European markets fell by between 2 percent and 3 percent Friday.

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[Source: Yahoo! News Search Results for housing loan]

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