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Considered by many economists the worst financial crisis since the Great Depression of the 1930s.
The threat of total collapse of large financial institutions, the bailout of banks by national governments, and downturns in stock markets around the world, The housing market also suffered, resulting in evictions, foreclosures and prolonged unemployment. The crisis played a significant role in the failure of key businesses, declines in consumer wealth estimated in trillions of U.S. dollars, -
The prices of automotive fuels linked to the siscouraged purchases of SUVs and pickup trucks which have low fuel economy. North American consumers turned to smaller, cheaper, more fuel-efficient imports from Japan and Europe. http://en.wikipedia.org/wiki/Automotive_industry_crisis_of_2008â2010
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Oil prices stabilized by October 2009.
Established a trading range between $60 and $80