Credit Turmoil Sinks Asian, European Markets

Stocks in Asia and Europe fell sharply Monday as steps by European governments to guarantee bank deposits failed to quell credit crisis fears. The Nikkei 225 declined 4.3% while Britain’s FTSE 100 index lost 5.6% in late trading. The DAX and CAC40 lost 5.5% and 5.9% respectively. (NYT)