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Asian Stocks Tumble on Bear Stearns News
Summary from the United Kingdom, from articles in English
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The rate at which banks will lend to each other spiked to a three-month high today as markets appeared to brush-off the US Federal Reserve's surprise $280 billion liquidity injection earlier this week. (article 1)
At the beginning of the week, the US Fed led a group of central banks, including the Bank of England, in agreeing to pump $280 billion into the market through an asset swap where lenders can exchange mortgage-backed securities. (article 1)
BEGIN: Comment Teaser Module Trading on the London market was subdued today, up 9.2 points at 5,701.6 by midday after closing down 84 points on Thursday as the weakening dollar spooked investors. (article 1)
Oil prices receded from yesterday's $110 high as the dollar traded at $1.5557, against the euro down from $1.5587 while the Japanese yen reached100.62, down from 102.04. (article 1)
China central bank has already warned interest rates may continue to go up to curb inflation, which soared to a near 12-year high of 8.7 per cent in February. (article 1)
Concerns over the fate of Bear Stearns, Wall Street's smallest bank, are also still high on persisitent rumours the bank is facing difficulties. (article 1)
Bear Stearns' shares fell in out-of-hours trading in New York to their lowest level for six years last night. (article 1)
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Other stories about Bear, Stearns and Fed:
Event tracking:
Story keywords
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Bear, Stearns, Fed, banks, Financial |
Source articles
- London shares open flat on recession fears (business.timesonline.co.uk, 03/14/2008, 540 words)
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blaster@cs.columbia.edu
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