US abandons plan to buy toxic assets (AFP)

Filed Under (Personal Finance) by on 12-11-2008

A trader bows his head at the Hong Kong Stock Exchange. The Dow Jones Industrial Average shed 4.7 percent after the announcement, and the gloom spilled over into Asia. Hong Kong shares plunged 6.2 percent at opening, while Tokyo lost 5.1 percent by midday.(AFP/File/Ted Aljibe)AFP - The US government abandoned plans to buy up the toxic mortgage assets at the heart of the global financial crisis, a reversal that helped send ailing world markets spiralling even lower.

--- AFP ...

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