BUSINESS
03/28/2008 02:45 am ET Updated May 25, 2011

Is The Financial Crisis Driven By Fear Or Facts?

The fear is spreading.

For months now, investors have been lured to overseas markets with the promise that surging growth and solid economic fundamentals in Asia and the Middle East would insulate them from the credit squeeze plaguing the United States market.

But the broad international sell-off on Monday -- and the prospect of a steep market decline in the United States on Tuesday -- raised fresh concerns that a looming recession and the fallout from subprime mortgages could have global repercussions.

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