One of the world's biggest hedge funds was organising an emergency injection of cash yesterday after a week of turmoil in the financial markets, while another fund attempted to bolt the doors to prevent investors from taking out their cash, The Independent reports.
The fallout from last week's chaotic trading is continuing to be felt, but Jean-Claude Trichet, the president of the European Central Bank, said that market conditions appeared to be returning to normal after the bank pumped €200bn (£136bn) of extra funds into the European banking system. In the US, trading in the shares of the big investment banks was still febrile, with investors fearing hidden losses, either in the banks' own in-house hedge funds or because of the possible collapse of their hedge fund clients. ASIAN MARKETS WERE wrenched lower today as confidence in the American ...
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