US Attorney Preet Bharara Photo: REUTERS

Stephen: It’s not surprising to see Cyprus is listed as one of the countries where Russian mafia money was laundered…

By AFP, The Telegraph, UK – April 17, 2013

http://tinyurl.com/cjx3ltr

By Greg Roberts, The Age- April 16, 2013

Australian investors were left confused after $7 billion was wiped off the value of the sharemarket, taking the losses in two days to more than $22 billion.

The price of gold, normally considered a save-haven investment, is bucking normal behaviour by tumbling at record levels as sharemarkets also fall.

Events in the world’s two largest economies, the US and China, were cited as being responsible for the ASX’s woes.

US markets plunged by two per cent overnight amid worries about an end to monetary stimulus being discussed, along with the fatal bombing at the Boston Marathon.

Australia’s 0.46 per fall wasn’t as bad but that followed a 0.91 per cent hit on Monday.

Australia’s largest trading partner, China, reported weaker than hoped for economic growth so far this year.

Investors believed the US economy will suffer if it stops pumping money into the economy and are “pricing that future” now, according to CMC Markets chief market strategist Michael McCarthy.