European financial markets crumbled Monday as government bond yields surged again in Spain and Italy, deepening fears that the continent's debt crisis had entered a far more dangerous phase.
U.S. stocks also were broadly lower. Gold hit a record high in early trading as investors ran for cover, and the euro plunged.
While European authorities still are wrestling with bailouts of Greece, Ireland and Portugal, the “contagion” from the debt crisis has spread to Spain and Italy over the last week. Market yields on Spanish and Italian bonds have risen for six straight sessions as investors demand ever-higher returns to buy the countries’ debt -- a sign of waning confidence.
read more:
http://latimesblogs.latimes.com/money_co/2011/07/europe-debt-crisis-italy-spain-gold-euro-bailout-stocks-bonds.html
No comments:
Post a Comment