Stock market falls amid fears of looming recession

The Czech stock market fell sharply Monday, losing almost five percent in a sell-off sparked by fears the US economy will fall into recession, dealers said. By mid-afternoon, Prague's Stock Exchange's main index was down by almost 5.0 percent as a wave of selling swept over nearly all shares. The PX index hit a low of 1,485.5, down 4.88 percent on the day, before recovering slightly.