Markets will get jitters after US plunge

MARKETS across the globe will be more than a little jittery this morning after Friday's plunge in New York.

They will also surely react to a report published in Britain today which says a prolonged Gulf War could result in soaring oil prices and shrink the United States' economy.

The Institute of Directors' report warns that if the conflict were to escalate, oil prices could go as high as 80 dollars a barrel, the US stock market fall by 30% and its gross domestic product contract by 2% this year.