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August 12, 2007 Sunday Rajab 27, 1428





US investors gird for fresh turmoil


NEW YORK, Aug 11: US investors are girding for fresh stock turmoil in the coming week after riding a market roller-coaster in recent days, which has shaken their confidence in the mortgage and credit markets.

The major US stock market indexes ended the week higher on Friday that a week ago, but investors saw their portfolios whip lashed as uncertainty about the troubled US housing sector and a related credit squeeze swept world markets.

The leading Dow Jones Industrial Average has dived and jumped by over 200 points in recent days, investors have fled mortgage related investments, and the Federal Reserve has injected tens of billions of dollars into the financial system to shore up confidence.—AFP






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