5th August 2011
Global markets plunged on Thursday and continued to drop this morning , as the reality of a US recession combined will a full blow debt crisis in Europe became more evident. Equity markets across Europe sharply sold off as ECB president Trichet stated that they had bought bonds in Ireland and Portugal but no other European country, the fact that these countries have already been bailed out made it evdient to the market that the Italy would be hung out to dry. Markets stopped trading due to the ferocity of the moves and stock exchanges had to stop price action as billions of euros were lost. The question is now how low do we go.
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