05 Aug '11, 7am

Asian markets routed on debt and economic fears

Asian markets routed on debt and economic fears

Asian stock markets on Friday plunged the most since the darkest days of the financial crisis, as a witch's brew of debt and economic fears sent investors running for the exits. -- PHOTO: AP ASIAN stock markets on Friday plunged the most since the darkest days of the financial crisis, as a witch's brew of debt and economic fears sent investors running for the exits. The market had already slumped for most of the week - on fears that European giants Italy or Spain would require a bailout - which would be difficult for the eurozone given the size of their economies. Recent economic data from Europe and the United States have led to speculation of a fresh recession. But these could hardly have prepared investors for what was to come. Wall Street set the pace on Thursday night, as the Dow Jones Industrial Average dropped 513 points, or 4.31 per cent, the worst since late 2008....

Full article: http://www.straitstimes.com/BreakingNews/Money/Story/STIS...

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