BBC: Losses on stock markets have continued after the collapse of fourth largest US investment bank, Lehman Brothers, which has filed for bankruptcy protection.
European markets opened sharply lower for a second day, with the UK's FTSE 100 and Germany's Dax both down 1.7%.
Shares in Japan, South Korea and Hong Kong fell more than 5%, having been shut on Monday for public holidays.
Lehman, which may be about to sell its core assets to Barclays, is the latest victim of the global credit crunch. Global Market Turmoil Continues >>> | September 16, 2008
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