August 12, 2007	Sunday	Rajab 27, 1428

NEW YORK, Aug 11: World stock markets dived for a second day running on Friday with investors worldwide dumping shares on fears of a widening economic crisis caused by a global credit crunch.

However, the US market pared back heavy losses in a late rally, with the Dow closing a modest 0.23pc lower after the Federal Reserve injected $38bn into the banking sector in a bid to ease investor anxiety.—AFP