Overseas Markets Still Fearful

from National Public Radio

The panic in U.S. financial markets continues to spread overseas. The Dow plunged Monday to below 10,000, rattling some markets in Asia and Europe. In response, Australia's central bank cut interest rates by the largest amount since 1992. That boosted some markets in the region. But Japan's Nikkei index still ended at a five-year low. Europe's most vulnerable country, Iceland, has instituted sweeping controls over its banks, and the prime minister warned that his country faces national bankruptcy.

Broadcast Dates

• Morning Edition, October 7, 2008