LONDON (AP) — World markets were caught in Wall Street’s downdraft as fears over a global financial crisis sent investors fleeing for the exits. European and Latin American stock markets gave up early gains Thursday and ended sharply lower after Wall Street stocks took a nose dive in late trading, triggered by news a major credit-rating agency may cut its ratings for General Motors and Ford Motor Co. In Asia, trading opened Friday with waves of selling in Japan and South Korea. Japan’s Nikkei index was off more than 10 percent, while South Korean share prices plunged 8 percent. —-Contact The Daily Reveille’s news staff at [email protected]