Dhaka, Bangladesh (BBN) – US markets retreated on revised, deeper than expected recession forecasts from the World Bank. The Dow lost 2.4 percent to close at 8,339.01.
Asian equity markets declined on diminishing confidence in the recovery process and falling commodity prices. The Nikkei lost 3.1 percent to 9,518.19.
The Pound (GBP) declined against the Dollar (USD) on falling home prices and equity losses in the UK. GBP fell as low as 1.6345 against the Greenback.
Declining equity markets and falling commodities saw higher demand for the safety of the Yen (JPY). JPY rose as high as 95.29 against USD.
BBN/SS/SI/AD-23June09-11:57 am (BST)