WASHINGTON: Barack Obama took over as US President yesterday with hopes riding high that he can conjure up a rescue that will jolt the world’s biggest economy back to life and contain the financial crisis ravaging global markets.
The first African-American to become US President will take his oath against the backdrop of plunging world stock markets, prospects of a drawnout US and global downturn, a trillion-dollar federal deficit and fears of more crippling bank losses.
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