Spreads on European credit derivatives indexes widened on Tuesday, as recent rallies in equity markets petered out, taking with them a week long rally in credit.
Asia-Pacific shares fell on Tuesday to end a six-day rally, Europe followed the negative trend along with the US markets. Growing fears about inflation weighed on European stock markets and Wall Street stocks opened lower after Oppenheimer's Meredith Whitney said the credit crisis will extend well into 2009 and possibly beyond.... ...
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