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Summary The arrest of IMF chief Strauss-Kahn caused a slump in Asian markets and a drop in euros value.
Fear of delay of the Internal Monetary Fund (IMF) and European Union bailout package for Greece and Portugal due to the arrest of the IMF chief cast a negative influence on the market.Morgan Stanley Asia Pacific Index in Tokyo recorded a decrease of 1.3 percent while Japans Nikkei Index shrank 0.94 percent and Hong Kong’s Hang Seng Index fell 1.35 percent.The value of euro also skidded down by 0.2 percent. Strauss-Kahn was charged with attempted rape. A 32-year old hotel worker alleges that Strauss-Kahn sexually assaulted her in his $3,000-a-night suite at Sofitel in Times Square.Strauss-Kahn was a possible candidate in the French presidential elections, but experts say both his career in politics and at the IMF are likely over.
