Banks in the region fell sharply after an estimate of $4 billion loss at Lehman Brothers made rounds.
Stocks in London trading fell as in the region on estimates of large losses at Lehman Brothers and a sharp rise in inflation in Germany and in the U.S. European markets across the region fell 2% or more. A further indication of global economic slowdown lowered market averages. The Bank of Japan left its key rate at 0.5% and cited further weakening in the global economy. July producer price index in Germany rose at 2% from June and surged 8.9% from the month a year ago.
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