G-7 Seeks to Calm Investor Fear After World Stock Selloff

Group of Seven nations sought to head off a collapse in investor confidence after the U.S. sovereign-rating cut and a slump in Italian and Spanish debt intensified threats to the global economy.

G-7 finance ministers and central bank governors pledged in a statement to “take all necessary measures to support financial stability and growth.” Officials will inject liquidity and act against disorderly currency moves as needed, they said after a call late yesterday European time. The G-20, which includes emerging markets, issued a similar communique.