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Photo by AKIRA SUEMORI / The Associated Press
Story by TIM PARADIS and MARTIN CRUTSINGER The Associated Press
NEW YORK — Stock prices in Asia and Europe careened lower Friday,
extending a stampede of selling that began on Wall Street a day
earlier, deepening a global financial crisis that has defied all
efforts to stop it. This week's co-ordinated interest rate cuts by the world's
central banks to thaw frozen credit markets and boost investor
confidence have fallen flat as markets remain gripped by fears about
the scale and depth of the likely global recession.
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