By Mark Duell Last updated at 6:45 AM on 24th September 2011 The head of the International Monetary Fund warned today of a 'looming collapse in global demand' that would pitch world economies into a new recession. The comments of IMF chief Christine Lagarde came on the day that money markets and investors experienced their worst day for three years. She told politicians and leading economists in Washington that urgent action must be taken, alluding to 'dark clouds over Europe and hug uncertainty in the United States'. She added: 'The actions I am calling for today are not for the coming years – they are for the coming months.'
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All three Wall Street markets open down again after big falls on Thursday
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Stocks recover slightly but Dow Jones has worst week since October 2008
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London's FTSE 100 drops below important 5,000 mark before finishing up
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South Korea in banking chaos as market plunges 5.7 per cent overnight
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Dow tumbled 500 on Thursday to year-low before slight rebound at close
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Investor George Soros says U.S. economy already into double-dip recession
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Warnings of six weeks to save the Euro as European debt crisis deepens
Down: This graph shows how the @placeholder industrial average has fluctuated over the past week