Fears of global liquidity crisis grip markets: Financial News - Yahoo! Finance

Fears of global liquidity crisis grip markets: Financial News - Yahoo! Finance: "Fears of global liquidity crisis grip markets Friday August 10, 3:24 pm ET By Daniel Bases NEW YORK (Reuters) - Global stock markets fell and high-yielding currencies lost value on Friday, even as central banks pumped extra cash into the financial system to help temper fears of a liquidity crisis gripping investors. Worldwide, central banks have injected at least $326 billion into their financial systems in the past 48 hours in an effort to prevent a global liquidity crunch that has its roots in the riskiest end of the U.S. mortgage market. In its biggest single day of temporary open market operations in nearly six years, the U.S. Federal Reserve added $38 billion in reserves in three moves, the first coming before U.S. stock markets began trading. U.S. stocks opened sharply lower, following the pattern of steep losses in European and Asian stock indexes. The European Central Bank added 61.05 billion euros ($83.6 billion) on Friday, less than its record-setting sum of 94.841 billion on Thursday. Asian authorities also added cash to their financial systems on Thursday and Friday."