Selloff of risky assets accelerated as comments by China’s Premier Wen Jiabao and PBOC Governor Zhou Xiaochuan heightened speculations for a rate hike. In Europe, the focus remained on a possible bailout for Ireland. News said European finance ministers have begun to work on possible assistance for Ireland. Yet, Finance Minister Brian Lenihan said a bailout is ‘not inevitable’ and the government has ‘not committed to enter a facility, but there are serious market disturbances’.
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World Market Tumbles on Worries that China Rate Hike May Soon Materialize
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