Asian stocks tumbled today as traders took their cues from Wall Street, where persistent worries about a possible US recession caused another decline in share prices on Friday.

Democratic and Republican leaders appeared close to agreement with the White House today on emergency tax cuts and benefit increases to jolt the US economy out of its slump.

Leading economists had mixed views today about whether a recession could spread around the world.

The FTSE 100 Index fell by as much as 2% today after inflation concerns and weaker oil stocks combined to derail the London market’s recovery.

The UK economy’s pace of growth continued to ease during the final three months of 2007, official figures showed today.

Asian markets rebounded strongly today, reversing their gut-wrenching plunge as investors welcomed a hefty, surprise interest rate cut by the US Federal Reserve to shore up the sagging American economy.

NEW YORK: the Dow Jones closed down 128.1 at 11971.2.

Investors rocked by two days of market turmoil held their nerve today as London’s FTSE 100 Index continued its bounce-back.

Investors in the UK desperate for an interest rate cut will scour Bank of England minutes released today for hopeful signs amid continuing stock market turmoil.