Investors seek refuge as credit worries snowball | Reuters
LONDON (Reuters) - Global investors slashed exposure to risk on Thursday, driving key stock benchmarks to multi-year lows and setting the yen soaring as traders exited high yielding assets and opted for the safety of government bonds and cash. Some measures of risk aversion reached their highest level since the September 11 2001 attacks as fears grew that fallout from the U.S. mortgage market could spark a funding crisis for financial institutions and companies worldwide.