Investors dump $89B in U.S. securities in historic fire sale
By David J. Lynch, USA TODAY
The deep river of private money that helped knit together the global economy has abruptly dried up, new government figures show.
As the global financial crisis grew more severe this summer, foreigners sold almost $90 billion of U.S. securities — the greatest quarterly fire sale by overseas investors since the government began keeping track in 1960. U.S. investors also are retrenching; they unloaded about $85 billion worth of foreign holdings in the quarter, says the Commerce Department's Bureau of Economic Analysis.
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Investors dump $89B in U.S. securities in historic fire sale - USATODAY.com