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more from ashley morrison here in new york. good morning. good morning to you. the bad news continues to pile up this morning, fueling fears the global economic recovery is in serious trouble. asian markets picked up where wall street left off with investors rushing to cut their losses. major markets were down across the board. yeah pan s nikkei dropped 0.9%, rebounding after hitting it s it lowest point in more than a year. wall street worries we may be headed into deflation when wages and prices drop, cutting business profits leading to more job losses and reinforcing the downward spiral. i think they re looking at it as possibly a 50/50 shot. reporter: today s round of economic news will not help the latest report on home foreclosures shows another surge with nearly 93,000 homes repossessed in july. that s a 9% jump over june and the eighth month if a row the pace of foreclosures has increased. and tough times are turning more spenders into savers. the latest retail
more than 3%. all the major indexes are in the red for the year, so let s get more from ashley morrison here in new york. good morning. good morning to you. the bad news continues to pile up this morning, fueling fears the global economic recovery is in serious trouble. asian markets picked up where wall street left off with investors rushing to cut their losses. major markets were down across the board. yeah pan s nikkei dropped 0.9%, rebounding after hitting it s it lowest point in more than a year. wall street worries we may be headed into deflation when wages and prices drop, cutting business profits leading to more job losses and reinforcing the downward spiral. i think they re looking at it as possibly a 50/50 shot. reporter: today s round of economic news will not help the latest report on home foreclosures shows another surge with nearly 93,000 homes repossessed in july. that s a 9% jump over june and the eighth month if a row the pace of foreclosures has increa