RealNews

Japan passes economic stimulus plan as stocks slump

Japan’s parliament on Thursday enacted an 18-billion-dollar emergency spending plan to stimulate Asia’s largest economy as Prime Minister Taro Aso said troubled markets also want stronger US action. The 1.81-trillion-yen plan includes measures to help consumers, companies and farmers cope with high fuel costs and a credit crunch. It was approved by the opposition-led upper house soon after Tokyo’s Nikkei stock index suffered its biggest loss in two decades, plunging more than 11 percent Thursday as fears of a global recession grew. Full Story

OODA Analyst

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