World is afraid of US recession: Obama

0 Comments | AFP, January, 2008

GREENVILLE, South Carolina (AFP) — Democratic White House hopeful Barack Obama on Tuesday said the world fears a US recession and concerns will only multiply unless the government does more.

"For the second day in a row, the global stock market has continued to plunge as the world continues to fear that the United States government won't do enough to prevent a recession," the 46-year-old Illinois senator said.

Obama expressed hope that the Federal Reserve's 0.75-point rate cut would stem the bleeding, but said "the fear remains."

"It's a fear that hasn't just confined itself to those who nervously watch the tickers or scan the headlines of the financial section, but one that I have seen on the faces of working Americans in every corner of this country long...