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An ugly sell-off in global stocks gathered pace on Friday, on mounting concerns the U.S. economy is heading into another recession and as some European lenders faced a short-term funding crunch, highlighting the risk of a banking crisis.
Nervous investors fled to the safety of core government bonds, Swiss francs and gold, which hit a record high, with many seeking to unwind holdings of riskier assets such as stocks, commodities and higher-yielding currencies before the weekend.
More: http://www.reuters.com/article/2011/08/19/us-markets-global-idUSTRE7725BC20110819
Nervous investors fled to the safety of core government bonds, Swiss francs and gold, which hit a record high, with many seeking to unwind holdings of riskier assets such as stocks, commodities and higher-yielding currencies before the weekend.
More: http://www.reuters.com/article/2011/08/19/us-markets-global-idUSTRE7725BC20110819
