Posted on 03/29/2009 11:37:23 PM PDT by FromLori
HONG KONG (Reuters) - Asian shares and U.S. stock futures slumped on Monday, while safe-haven U.S. Treasuries gained after the Obama administration's autos task force rejected turnaround plans for troubled automakers GM and Chrysler.
Monday's announcement by the White House autos panel marked a stunning reversal for management at the two U.S. companies, and raises the prospect of bankruptcies that could further debilitate the already ailing U.S. economy.
(Excerpt) Read more at reuters.com ...
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