A warning of tough times ahead by Fed Chairman Ben Bernanke sent global markets sharply lower, with Tokyo shares tumbling 10 per cent on Thursday, as investors brace for looming recession.
Shrugging-off recent optimism about massive govern
Gold prices rose on Thursday as investors sought safety in bullion, fearing the $700 billion bailout plan for investment banks in the United States could be derailed by Congress.
Spot gold was at $888.65/889.65 an ounce at 1007 GMT compare
US Congress looked close to reaching a deal to approve a $700 billion plan to bail out the US financial system and President George W Bush called an emergency meeting for Thursday to hammer out details.
The move toward a deal will likely c
The Bush administration has asked Congress for $700 billion to bail out firms burdened with bad mortgage debt, seeking extraordinary authority as it tackles the worst financial crisis since the Great Depression.
Democratic lawmakers, who c
Asian stocks tumbled 3-7 percent on Thursday, with emergency actions by central banks and governments around the world failing to ease a financial crisis that has sent investors fleeing to government bonds.
The seismic shift on Wall Street