Torrid times for the States

Analysts insist the current situation is a mere market correction, but others fear a meltdown is on the way, writes Niall Stanage in New York.

11th August, 2007

Analysts insist the current situation is a mere market correction, but others fear a meltdown is on the way, writes Niall Stanage in New York.

As tremors from the American sub-prime mortgage crisis begin to be felt around the world, conditions in the US remain perilous.

The most obvious manifestation of the depth of the crisis is the lurching stock market. The Dow Jones Index has registered swings of 100 points or more in 11...

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