Asian stocks fell about 4 per cent, down for a fifth consecutive day, and government bond prices rose on Wednesday as fears of a loomi
ng global recession grew with no sign of a coordinated response or an end to the worsening financial meltdown.
The yen climbed as investors clung to anything resembling stability after Federal Reserve Chairman Ben Bernanke warned turmoil in markets could cause U.S. economic activity to be subdued into 2009 and signalled a readiness to cut interest rates.
Wednesday, October 8, 2008
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