EU EURO COUNTRIES: Bottom Line - Stocks stumble badly amid Italian crisis worries

Wednesday, November 9, 2011

Bottom Line - Stocks stumble badly amid Italian crisis worries

Bottom Line - Stocks stumble badly amid Italian crisis worries

1 comment:

RAYLOKENovember 9, 2011 at 4:46 PM
Markets fear that a chaotic default by either Greece or Italy would lead to huge losses for European banks. That, in turn, could cause a global lending freeze that might escalate into another credit crisis similar to the one in 2008 after Lehman Brothers fell.
Some analysts fear that the euro itself could fall, which would lead to inflation and a breakdown in free trade agreements in the European Union.
European markets also fell sharply. Italy's benchmark index plunged 3.8 percent. Germany's DAX and France's CAC-40 each lost 2.2 percent.
The prices of assets seen as safe havens rose sharply. The dollar jumped 2 percent vs. the euro.
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