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Stock markets fall on debt fears – debt crisis could spread to Italy and Spain
This article was posted on Jul 12, 2011 and is filed under Market News
Shares in Asia have fallen as investors reflected fears in Europe that the region’s debt crisis could spread to Italy and Spain.
Stocks also fell in Tokyo after the Bank of Japan downgraded its estimate for economic growth this year, following the devastation caused by the earthquake and tsunami in March.
European stock markets fell heavily on Monday, especially Italy, where the market in Milan lost 4%. In New York the Dow Jones Industrial Average closed 1.2% lower.
On Monday eurozone finance ministers, meeting to discuss a new aid plan for Greece, said they were ready to enhance “the flexibility and the scope” of a 400bn-euro (£353bn) rescue fund. for more visit: BBC.com
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