Wall Street rally falters, with recession concerns after
Goldman Sachs said US GDP will decline 5% in the current quarter and
expect this to be followed by declines of 3% and 1% in the next two
quarters. Pharmaceutical stocks are sharply lower, with Novartis and
Roche notable fallers. CAC-40 is down 65pts (-1.68%), Xetra-DAX is down
68pts (-1.60%) and FTSE-100 is down 60pts (-1.54%).