U.S. Mortgage Rescue Sends Shares Surging World Wide
Summary
BIG gains on Wall Street rounded off a spectacular day of global market rallies yesterday.
Stocks surged around the world after the U.S. government took over troubled lenders Freddie Mac and Fannie Mae in an effective nationalisation - a move some said averted 'Armageddon'.See the full content of this document
Extract
U.S. Mortgage Rescue Sends Shares Surging World Wide
The action, which boosted some banking shares by 15 per cent, was welcomed as a crucial shot in the arm for the U.S. housing market.
It had been feared that the 'subprime' crisis had left it in such dire str...See the full content of this document