US: Market turmoil ending

(01:24) Report

May 26 - Global financial markets are starting to heal from over $300 billion in subprime related losses, a U.S. Treasury official said Monday.

US Treasury Assistant Secretary Clay Lowery, reiterating boss Henry Paulson, said sub-prime woes, while not over, appeared to be moving towards conclusion in the wake of concerted international action.

Dan Sloan reports.

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