Goldman Sachs accused of fraud
The US government's financial watchdog alleges that Goldman Sachs misled investors by failing to disclose conflicts of interest in mortgage investments it sold as the housing market was faltering.
The SEC announced it had lodged civil fraud charges against the company and one of its vice presidents - news that sent stock markets worldwide reeling.
London's FTSE 100 Index plunged 1.4% in reaction, while the Dow Jones Industrial Average in America fell more than 160 points at one stage.
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