Stocks slump as news of Dubai debt crisis sinks in
The Dow Jones industrial average closes down 154 points, a slight recovery from earlier losses. World markets react strongly to Dubai's announcement that it would freeze its debt repayments.
Stock markets sank in the U.S. and Asia on Friday as investors scrambled to determine whether a debt crisis in the Middle Eastern emirate of Dubai would infect credit markets around the globe.
Stock markets sank in the U.S. and Asia on Friday as investors scrambled to determine whether a debt crisis in the Middle Eastern emirate of Dubai would infect credit markets around the globe.