European exchanges closed sharply lower today on fears of a deepening global recession (16.10.2008) je 16

European exchanges closed sharply lower today on fears of a deepening global recession. Investors have been selling stocks and commodities, and heading for the relative safety of cash. They are also bracing for the release of corporate earnings reports due out this week and next. For many corporations - especially in the US - the 3rd quarter was one of the worst in recent memory.