Continued credit crunch will maintain pressure on global economy

Although the U.S. credit crunch began in the subprime mortgage market, there is no doubt other sectors of the economy -- particularly small and midsize companies and corporations with poor credit -- are being affected by the way banks have restricted loans. Already, stock prices and employment have fallen and if the credit squeeze continues, companies may cut spending, further slowing the economy not only in the U.S but globally.

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