Stock Market in crisis as uncertainty continues
The stock markets today took another big hit following the news that one of the largest US Banks Lehman Brothers was filing for bankruptcy. The European markets started for the second day in a row, whilst Asian stocks fell by over 5% after being on holiday on Monday.
The US market also took a thump, having its worst trading day since the tragedies of 9/11. Asian Central banks have tried to stabilise the markets, with the Banks of Japan, Australia and India all pushing money into the banking system.
The uncertainty is set to continue as financial institutions look to sever ties with the stricken US bank Lehman Brothers, who have incurred billions of dollars of losses during the US mortgage slowdown.