US credit default swap index widens 8 bps-Markit

NEW YORK Tue Jan 22, 2008 8:22am EST

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NEW YORK Jan 22 (Reuters) - The cost of protecting corporate debt against default rose on Tuesday as recession fears sent U.S. stock indexes tumbling, suggesting Wall Street would join a global equities sell-off.

Default protection costs, as measured by the main index of investment-grade credit default swaps, rose nearly 8 basis points to about 124 basis points, according to data from Markit Intraday. (Reporting by Dena Aubin; Editing by Theodore d'Afflisio)