White-Knuckle Ride As Dollar Tumbles but Lendingworries Ease

Evening Standard - London (May 31, 2006)

Author: Mickey Clark

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Summary

THE London stock market is no place for the squeamish or fainthearted these days. Those City investors brave enough to test the water today were treated to yet another white-knuckle ride.

It followed another grim performance on Wall Street overnight that saw the Dow plunged 184 points to 11,094. This came in response to the latest slump in the value of the dollar, which dealers said was prompted by the appointment of Goldman Sachs chief executive Hank Paulson as US Treasury Secretary and evidence of a slump in American consumer confidence.

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Extract

White-Knuckle Ride As Dollar Tumbles but Lendingworries Ease

The selling spilled over into the Far East this morning, where investors are running scared about prospects for the US economy. It is feared Fed chairman Ben Bernanke may soon be forced to raise ra...

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