23 Sep '11, 11pm

Estimated $1.3 trillion wiped off the value of US stocks this week

Estimated $1.3 trillion wiped off the value of US stocks this week

An estimated US$1 trillion (S$1.3 trillion) was wiped off the value of United States stocks this week, amid heightened fears that the world economy is heading for another recession. -- PHOTO: AFP NEW YORK (AFP) - An estimated US$1 trillion (S$1.3 trillion) was wiped off the value of United States stocks this week, amid heightened fears that the world economy is heading for another recession. After a string of warnings that Europe and the United States must do more to put their economies in order, the Federal Reserve on Wednesday provided the straw that broke the market's back. The bank's warning, that there are 'significant downside risks to the economic outlook,' sent stocks into a tailspin with the Dow Jones industrial average losing nearly 800 points over the next 24 hours. By the end of Thursday an estimated US$103 billion had been wiped off the value of that 30-member...

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

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Tai-tai for a week

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