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Article: Recession sure to cause us pain.
- Article from:
- Daily Mail (London)
- Article date:
- October 25, 2008
CopyrightCOPYRIGHT 2008 Solo Syndication Limited. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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Byline: Geoff Foster
BRACE yourselves, it's coming and it will be extremely painful. Investors certainly think so because growing fears of a sustained worldwide economic recession sent them sprinting for the exit and world stockmarkets into freefall.
After an Asian bloodbath overnight which saw Japanese, Indian and South Korean indices plummet by more than 9.5pc, punchdrunk dealers in London once again found themselves in the firing line or some would say, up the creek without a paddle.
Confirmation that the UK economy had shrunk in the third quarter for the first time in 16 years, an emphatic entry into Fits lowest level for more than five ...