From the Foggy Din of Fear Emerges a Vast Swelling Continent of Economic Truth | WHAT REALLY HAPPENED

From the Foggy Din of Fear Emerges a Vast Swelling Continent of Economic Truth

Dollar and Yen Soar as Other Currencies Fall and Stocks Slip

WASHINGTON — Fear that the financial crisis is infecting once-healthy economies created another white-knuckle day for investors Friday, causing stocks to tumble from Tokyo to New York.

Uncertainty also roiled currency markets as investors continued to turn to the security of the United States dollar and the Japanese yen and drove down currencies of developing countries like Brazil, Ukraine and South Korea and even of developed countries like Britain.

Economies around the world are frantically hoarding dollars.

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