美国经济数据疲弱及信贷危机持续,加上央行的言论突显出增长放缓的风险,令投资者怀疑早前有关新兴国家与工业国金融市场发展分道扬镳的说法是否恰当,并增加美国经济衰退可能拖累全球经济的恐惧,使市场再度笼罩着逃避风险的情绪、信贷溢价上升及全球股市出现抛售潮。在全球股市暴跌后,美联储于1月22日采取紧急行 The weak US economic data and the ongoing credit crisis, coupled with the central bank’s remarks underscoring the risk of a slowing down have left investors doubting the appropriateness of earlier divergent approaches to the development of financial markets in emerging and industrialized countries and increasing the possibility that the U.S. recession could drag down the global economy The fears of the economy put the market again in the midst of a risk-aversion, a credit premium rise and a sell-off in the global stock markets. After the global stock market plunged, the Federal Reserve took emergency action on January 22