NVDL: I have my concerns now that the world next week may not resemble the world we know today, or ever be the same again. In fact, this is probably already the case.
LONDON - Stock markets across the world plunged today as concerns about the worst financial crisis in nearly 80 years and fears of a global recession gripped investors despite government efforts to intervene. “The deteriorating outlook for the economy and the deepening financial crisis are pushing fears to their limit,” said Mitsushige Akino, chief fund manager at Ichiyoshi Investment Management in Japan.
The low-yielding yen was viewed by many currency investors as a clear favourite for relative safety.
“Investor risk aversion and selling of high-yielding currencies are prominent,” said Masafumi Yamanoto, head of foreign exchange strategy for Japan at Royal Bank of Scotland.
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