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U.S. Mortgage Market Woes Spread to Europe

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U.S. Mortgage Market Woes Spread to Europe

Economy

U.S. Mortgage Market Woes Spread to Europe

U.S. Mortgage Market Woes Spread to Europe

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  • <iframe src="https://www.npr.org/player/embed/12692600/12692601" width="100%" height="290" frameborder="0" scrolling="no" title="NPR embedded audio player">
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This week, the problems in the U.S. mortgage market morphed into a global phenomenon and pushed stock values down around the world. Banks in France and Germany acknowledged big losses because of investment in U.S. mortgage-backed securities.

Adam Davidson explains how it happened.