Market unrest continues
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AP
Published: November 20, 2008
Asian stock markets are headed down again amid fears of a protracted recession that sent Wall Street plunging to it lowest point in five years.
Benchmarks in Japan and Hong Kong lost about 6 percent or more, amid lowered projections for U.S. economic activity next year and worries over the fate of America’s Big Three automakers.
The uncertainty facing companies around the world was evident after U.S. reports showed that consumer prices plunged by the largest amount in the past 61 years last month as gas prices fell
steeply. While beneficial to consumers, lower prices hurt corporate profits.
Oil prices in Asia slipped to an almost 2-year low of less than $53 a barrel.
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