World stocks in meltdown over US economy fears

European and Asian stock markets sank on Wednesday, mirroring losses the previous day in New York, on mounting fears that weakness in the US housing sector could infect the world economy.

//sg.biz.yahoo.com/070801/1/4a9y7.html



Dollar drops sharply vs yen in Asia on worries over U.S. housing loans

The dollar fell sharply against the yen in Asian trading Wednesday as non-Japanese investors sold the U.S. currency to lock in profits amid expectations that subprime mortgage woes will continue to weigh on U.S. shares.

//tinyurl.com/3b5jo8



American Home can't fund loans

American Home Mortgage Investment Corp (AHM.N), a large U.S. mortgage provider, said on Tuesday it can no longer fund home loans and may liquidate assets, putting its survival in doubt.

//tinyurl.com/2ogclr


From Information Clearing House



//freepage.twoday.net/search?q=meltdown
//freepage.twoday.net/search?q=housing

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