The credit crunch and global share markets have taken another turn for the worst this week reflecting a combination of continuing bank failures/rescues in the US and Europe and the US House of Representatives initial rejection of the US Government's debt relief package.

Uncertainty regarding the investment outlook is continuing to drive massive daily swings in share markets. Over the last twenty trading days the Australian share market has seen 17 days where the market has moved by 1% or more, with US, European and Japanese shares seeing an average of 14 days. This is way above historical norms.

 financial_turmoil-us_rescue_article

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