Warning of Financial Meltdown As Shares Plunge Across World

Summary


PRESIDENT George Bush was today preparing to make an emergency statement on the economy as global stock markets crashed.

The White House said Mr Bush would address the nation as shares around the world tumbled and the US economy lurched towards recession.

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Extract


Warning of Financial Meltdown As Shares Plunge Across World

It came as the crisis at Wall Street investment bank Bear Stearns sparked panic in London, Washington and beyond. Fears were growin...

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