The Federal Reserve was forced to deny yet another market-moving rumour about chairman Mr Alan Greenspan yesterday, this time shooting down talk on Wall Street that the central banker was in a car accident.

Stock, bond and foreign exchange markets, all of which hang on Greenspan's every word whenever he speaks, were concerned that the US central bank chief may be injured or worse - and appeared to fall briefly on the rumour.

The Federal Reserve then got in touch with the 74-year-old at a meeting in Chicago and confirmed that there had been no accident and that he was alive and well.

"These rumours are not true," Federal Reserve spokesman Mr Bob Moore told a frantic group of financial reporters in Washington.

"There has been no traffic accident," he said. "The chairman is attending a board of directors' meeting at the Federal Reserve Bank of Chicago, where he has been since early this morning - and he is fine."