Global Recession Worries Drag Down World Stock Markets
All major indexes fell by more than 3 percent in a protracted sell-off on Friday.
Gold and oil not immune from pessimistic outlook of investors – See also
IMF to Provide Iceland with $2.1 Billion Emergency Funding
In a move underscoring the depth of the global credit crisis, Iceland has asked the International Monetary Fund (IMF) for $2.1 billion in emergency funding to stabilize its financial system described as being on “the verge of collapse”.
Russia Uses Reserves to Protect Rouble
Falling oil prices have hammered the Rouble which has had four straight losing weeks prompting the Russian government to spend nearly $6.5 billion in an attempt to prop up the ailing currency.
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