Financial Crisis Extending?

Posted by | April 17, 2008 | Current Affairs | No Comments

Yes, you guessed it right, I am busy traveling, but yet as many others I do keep a tab on the happening of the global economy. The Financial crisis in the United States as you all know does have a global impact. When many analysts are speculating if the time has come for the economy to take a ‘U’ turn, the crisis just seems to present itself in a whole new picture. This time it is the worlds largest brokerage firm ‘Merrill Lynch’ which has posted its first quarter loss, after taking down billions in write downs. The first quarter net loss seems to be in the tune of $1.96billion. This news did have an effect on its share prices and according to ‘Reuters’ the shares were down 16.4 percent.

What impact would this have on the rest of the economy is quite understandable. The effect of the financial crisis is definitely affecting the global economy and measures to curtail the effect need to be implemented at the earliest.

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