Morning Markets: Asia falls amid global growth concerns

The US government's £110bn rescue package for Fannie Mae and Freddie Mac failed to boost investor mor...

The US government’s £110bn rescue package for Fannie Mae and Freddie Mac failed to boost investor morale in Asia as its index fell by 2% overnight. It is believed concerns about global economic growth overshadowed the takeover which was announced on Sunday in a bid to save the world’s financial system. The MSCI Asia Pacific Index lost 2.1%, reversing some of the previous day’s 3.9% gain which was the largest rally in seven months. Materials, shipping and financial companies suffered the worst. Meanwhile the S&P 500 ended yesterday up 2.05%. In the UK, the FTSE 100 fell 0.19% as Aug...