Zac Efron has broken his nose in five places whilst playing basketball in a public park. Plastic surgeons were called to the scene immediately, but a spokesperson has announced that Efron "may never be attractive again."
The world's markets were quick to react. The Dow Jones and FT plummeted at the news. Analysts are waiting for the Asian markets to open to see what the effect of the Efron nasal scandal will be - "Who nose" said one wag.
Gordon Brown, prime minister of the UK and avid fan told the house of commons: "Clearly this is disastrous news for the world economy. Governments were banking on Zac et al becoming so blooming successful that they supported the global financial system for the next few years."
Robert Peston, BBC financial editor and expert in all things Efron told us what had happened: "Apparently Mr Efron was involved in a perfectly ordinary game of basketball, when all of a sudden he burst into song. His opponents were taken aback and accidentally elbowed the player repeatedly in the nose."
Under Mr Efron's contract, if he becomes ugly he can be dropped immmediately. The world waits with its heart its mouth to see whether Troy will ever be seen on our screens again.