Friday, December 12, 2008

GLOBAL MARKETS-Stocks tank, yen surges as auto bailout fails

HONG KONG, Dec 12 (Reuters) - Asian stocks slumped more than 5 percent on Friday after the collapse of a $14 billion rescue plan for ailing U.S. automakers threatened to further damage the world's biggest economy, sending investors scrambling to the safety of government bonds and the yen, which hit a 13-year high.
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