Brutal sell-off on Wall Streets on 19/10/2007, which registered its third worst day of the year '07.Fears about credit and housing sector, earnings, record-high oil prices, slide in dollar.And what the Fed would do next is to cut interest by 0.25 basis pt, understand Fed do not want to see itself as though it is encouraging speculators of the housing market, neither, does it want the fears about credit and housing sector to linger on.
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