Soaring oil prices, plunging U.S. stock market confront world finance officials
WASHINGTON Federal Reserve Chairman Alan Greenspan and Treasury Secretary John Snow will host a meeting later this morning for finance officials from the world's seven richest industrial countries. The meeting comes a day after Wall Street took a more than a 190-point plunge. It is the third straight day it's losses have been in triple digits.
Rising oil prices have already been a concern, and the recent downward turn in the stock market will certainly be discussed at today's meetings.
Today's meetings will be before this weekend's meetings of the 184-nation International Monetary Fund and its sister lending institution, the World Bank. Protesters are expected to demand that organization provide debt relief for poor countries.
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