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Asian Stock Markets Plunge - Worried About US Recession
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Old 01.16.2008
WiseOne's Avatar
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Water Hot4 Asian Stock Markets Plunge - Worried About US Recession

Quote:
Asian Markets Plunge on Worries That US Is Sliding Into Recession; Hong Kong Sinks 5.4 Percent

HONG KONG (AP) -- Asian markets plunged Wednesday on growing speculation the U.S. economy -- a vital export market -- is sliding into a recession that could lead to a global slowdown.

Investors dumped stocks after an overnight sell-off on Wall Street and on news that Citigroup Inc. had lost nearly $10 billion in the fourth quarter as it wrote down mountains of bad mortgage assets -- the latest fallout from the credit crisis. Weak U.S. retail sales figures added to the gloom.
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WiseOne's Comments, well, at LEAST Asia has their eyes open, what scares me is when American's finally wake up to this fact en masse.
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