US ‘moving over market crisis’

With panic selling of shares continuing around the world, US President George Bush has pledged that his administration will move aggressively to address the financial markets crisis.

Bush said: “The plan we are executing is aggressive, it is the right plan, it will take time to have its full impact, it is flexible enough to adapt as the situation changes, and big enough to work. The Federal government will continue to take the actions necessary to restore stability to our financial markets and growth to our economy”

However Bush acknowledged that anxiety was feeding on itself, which was sending stocks plummeting.

As he spoke, Wall Street was on its latest day of roller coaster volatile trading.

Volume was heavy across the board, with all three major US stock indexes gyrating between steep losses and gains.

The only things heading up are the so called safe haven investments — gold and the US dollar.

Copyright © 2009 euronews

tags: Economy