The Washington Times, 10 Mar 2009, David M. Dickson
Financial assets around the world may have lost "well over $50 trillion" of value last year, a collapse of wealth equivalent to a year's worth of world economic output, the Asian Development Bank reported Monday.
This "astounding" decline reflects stock market losses, write-downs on bonds and currencies losing ground against the dollar as investors engaged in a "surprising run" toward the greenback in search of a safe-haven currency, the ADB report said.
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