G-7 Says ‘Severe’ Downturn to Persist, Vows to Reverse Slump

Feb. 15 (Bloomberg) -- Group of Seven finance chiefs vowed to tackle a “severe” economic downturn that will persist for most of 2009 without spelling out new steps to do so.
U.S. stocks fell the most this week since November, extending the Dow Jones Industrial Average index’s decline since the start of the year to 11 percent.

The group repeated its traditional message that “excessive volatility” and “disorderly movements” in exchange rates must be avoided.