Asian stock markets soared today as a news of a US government plan to rescue banks from risky mortgage debt brought hope of a let-up in the world’s worst financial crisis in decades.

Shares tumbled today as US investors reacted to a stunning reshaping of the landscape of Wall Street.

Wall Street rallied again today, with the Dow Jones industrials scoring another record close as investors grew more confident that the Federal Reserve has inflation in hand.

Inflation fears sent stocks plunging in the United States today as jitters over high oil prices exacerbated signals that the Federal Reserve will keep lifting interest rates to contain price increases.