Economy | News-Opinion
CLOSING BELL: September 26th: DJIA: 13,413.51 | DOWN 44.04 | -0.33%
OIL: $89.98, DOWN 1.39, -1.52%
GOLD: $1,753.60, DOWN 12.80, -0.72%
GASOLINE (US Avg): $3.805, DOWN 0.005
Stocks slip on Europe fears, Spain yields jump
Herbert Lash, Reuters – World shares slumped and the euro hit a two-week low on Wednesday as growing opposition in Europe to measures aimed at resolving the euro zone’s debt crisis unnerved investors already skittish about the weak outlook for global growth.
Investors focused on Spain, where the main share index lost 3.9 percent.IBEX and yields on 10-year bonds hit 6 percent on worries about Madrid’s commitment to reform after violent protests and talk of secession by the wealthy Catalonia region.
A general strike in Greece and signs of discord among top euro zone officials over new policies to tackle the crisis added to concerns, taking the gloss off recent moves by the European Central Bank to calm markets by buying bonds.
International lenders are at loggerheads over how to solve the crisis in Greece, threatening more trouble for the euro zone as the International Monetary Fund demands European governments write off some of the Greek debt they hold.
The euro fell to $1.2836, a two-week low, and traded at $1.2864, down almost 0.3 percent on the day.
Crude oil prices fell more than 1 percent before paring some losses, and U.S. stocks followed European shares lower, though not as sharply. Stocks in the euro zone suffered their worst session in two months.
Read the full story at Reuters [here]
The Common Good publishes a financial market wrap-up every weekday after markets close, available here.
