Stock markets and euro down on double-dip fears

June 7, 2010 03:46

European stock markets have opened lower, amid renewed fears of a double-dip recession.

via BBC News

The FTSE 100 declined by 1.6% in its opening minutes, while Asian markets also tumbled, with Japan’s Nikkei 225 closing down 3.8%.

Meanwhile, the euro dropped to its lowest level against the dollar in four years.

Fears were largely driven by disappointing US jobs data released on Friday.

Some 431,000 jobs were created in May, the US Labor Department said. However, analysts had expected 500,000 new jobs.

Other European markets also fell in the first hour of trading, with the German Dax index 1.3% lower and France’s Cac 40 down 1.9%.

The Nikkei had been down as much as 4% at one point, and its closing level marked its biggest daily fall in 14 months.

Hong Kong’s Hang Seng index also closed more than 2% lower.


Help Make A Difference By Sharing These Articles On Facebook, Twitter And Elsewhere: