Unresolved debt crisis sends stock markets into tailspin

By mid-2011 the stock markets had largely recovered from the downturn caused by the natural disaster in Japan back in March. However, fuelled by growing recessionary fears among investors, a situation that appeared unfounded in terms of the overall performance of the real economy, the international capital markets were again faced with a downward spiral in the weeks that followed. Alongside financial stocks, shares of automotive companies also came under increasing pressure, as a number of analysts decided to revise downwards their projected figures for global automobile production in direct response to the anticipated uncertainties associated with future economic performance.