Debt fears heighten in US and Europe
By Michael Mackenzie and Henny Sender in New York
Published: February 8 2008 20:33 | Last updated: February 8 2008 23:16
Fears about corporate and commercial property debt reached new heights in the US and Europe on Friday as investors liquidated holdings in a sign of spreading credit turmoil.
The markets were gripped by worries that economic weakness would affect corporate profits, leveraged buy-outs and commercial property. This represents an escalation of the crisis that began with concerns about US subprime mortgages.
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