IMF says that Global financial system under “severe stress”

Comments from the IMF have done nothing to improve the mood of the stock market with S&P futures hitting new lows. The IMF said that the global writedowns of toxic debt in US, Europe and Japan could reach $4.1 trillion and that the global financial system remains under severe stress. Gone are the days when a $1 trillion call was deemed as outlandish.

Eur/Usd stands idly by at 1.2925