Saturday 20 August 2011

Global stocks slide anew, gold sets fresh record


NEW YORK: Equity markets slid anew and gold set a second-straight record high on Friday as fears of a possible U.S. slide into recession and concerns related to Europe's debt crisis kept investors on edge.


Wall Street marked a fourth week of losses, pulled lower by a 20 percent plunge in Hewlett-Packard -- its worst day since the 1987 market crash -- after the Silicon Valley icon unveiled a dismal outlook and a difficult corporate shake-up.


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