The far-reaching consequences of the global financial crisis are becoming apparent for the real economy.
Today (Thursday 16th), the financial crisis shifted gears owing to fears for a global recession and battering financial markets. Even as governments sought yet more action to pull the world economy from the brink of collapse.
Tokyo stock market’s benchmark Nikkei average fell below the important level of 13,000 for the first time since January 1986 in early trading on Thursday, amid intensifying worries of a global equity meltdown. Shares in London dived through the psychologically important 4,000-level today as panic about the strength of the global economy continued to spread from America to Asia and Europe.
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