Global anxiety about the prospects of a US recession sent stock markets tumbling around the world January 21st. The Toronto Stock Exchange plummeted more than 600 points -- then its biggest one-day point loss in seven years. David Wolf, head of Canadian economics and strategy at Merrill Lynch Canada, said the Fed had to react quickly.

Date: 2008-01-21
Placeline: TORONTO, Ontario.
Source: The Canadian Press
Length: 13 seconds

Transcript Prediction: << the statement reads very clearly that you know the economy is going down the tubes and then finantial markets are in distress and that means rates need to be significantly lower and fat >>

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