By  on March 18, 2008

It's ugly out there in financial markets — and that's likely to have an impact on everything from retailers' bottom lines to luxury goods initial public offerings.

The meltdown at Bear Stearns was the latest wobble to hit the American and global economy, even as the Federal Reserve Board moved to facilitate a takeover of the troubled investment bank — which had several holdings in retail and apparel — by J.P. Morgan Chase.

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