PETALING JAYA: Asian and European markets rallied yesterday as the United States prepared to pump US$125bil (RM438.7bil) into nine of its biggest banks in a move to prevent a global financial meltdown.
The US Government’s investment in nine of the country’s biggest banks, including Citigroup and Goldman Sachs group Inc, comes after France, Germany, Spain, the Netherlands and Austria pledged 1.3 trillion euros (RM6.3tril) to guarantee bank loans and acquire stakes in the banks.
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