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TOKYO (AP) - Japan posted a record current account deficit in January, plunging into the red for the first time in 13 years due to plummeting demand for Japanese exports and a deepening global downturn, the Ministry of Finance said Monday.
NEW YORK (AP) - Several key lending rates declined again Thursday, but another weekly drop in the amount of commercial paper in the market showed that the credit markets remain under stress.
Asia-Pacific markets remained fragile although losses were not as large as Wednesday's when a coordinated emergency rate cut by the US Federal Reserve and six other central banks did not do much to allay fears of impending global recession and more bank failures.
Oil prices fell more than $1 a barrel Friday from record levels set a day earlier on hopes that tensions surrounding Iran's nuclear program could ease and cut the chances of American or Israeli military action against OPEC's second-largest oil producer.