Wednesday, August 3, 2011

Investors fear new economic downturn

Two years after the last recession ended, Wall Street is showing rising fear that the U.S. economy could be headed for a new downturn.

Stock prices plummeted in the U.S. and Europe on Tuesday, driving the Dow Jones industrial average to its lowest level since March and to its longest losing streak — eight straight sessions — since the October 2008 financial system meltdown.

Deepening investor pessimism about the world economy is posing a serious threat to already fragile business and consumer confidence at a time when policymakers appear out of fixes.

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