US recession fears savage world financial markets
World stock markets took a beating Monday over fears that the U.S. economy was heading back into a recession just as the European debt crisis was heating up and the eurozone's economic indicators were slumping. A trader works on the floor of the New York Stock Exchange on Friday, Sept. 2, 2011 in New York. The jobs report was the weakest in almost a year. It renewed fears that the U.S. might slip back into recession. (AP Photo/Jin Lee) A man looks at an electronic stock board of a securities firm in Tokyo, Monday, Sept. 5, 2011. Asia-Pacific stocks took a beating early Monday after jobs data out of the U.S. last week revived fears of a recession in the world's largest economy. (AP Photo/Koji Sasahara) More business news In tough economy, multi-job holders grateful for balancing act Delta at center of FAA debate Turkish hackers hit UPS Recession over, jobs still elusive New owner for Atlanta Dream Delta Air Lines news, links Coca-Cola Co. news Health Care Reform coverage R...