Morning all. Market reports:
Telegraph
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This is Money
Wall Street faces the growing risk of an equities bloodbath in coming months as the credit crunch spreads to the wider economy and earnings crumble, according to a pair of grim reports issued by Goldman Sachs and Wells Fargo.
Goldman Sachs and Wells Fargo warn 'delusional' investors on stocks
The Bank of Japan has reiterated the need to pay close attention to increased downside risks in Japan as a result of the US slowdown and lingering turbulence on global financial markets, minutes from its policy review meeting last month showed.
Bank of Japan confirms need to monitor US economic slowdown
The gloom enveloping the banking sector worsened yesterday after America's fourth-largest bank, Wachovia, admitted it needed to raise $7bn (3.52bn) through an emergency fundraising after running up losses caused by the sub-prime mortgage crisis.
US bank admits sub-prime emergency
US consumers continue to be weighed down by the combined pressures of high food and fuel prices and a housing market in terminal decline.
American high street may be feeling recession
A structured investment vehicle set up by Barclays' investment banking business has become the latest to fall into receivership as the value of its assets falls.
Barclays SIV Golden Key goes into receivership
Manufacturing costs have increased at record rates ahead of today's release of the latest inflation figures, dampening the prospect of a further interest rate cut next month.
Costs of production rising at record rate
House prices are experiencing their most widespread decline since records began because of the fallout from the credit crisis, a report released today shows.
House prices decline at record levels
Share-buying in Britain's largest company is being closely watched by Downing Street.
Chinese fund builds up 1bn stake in BP