Overseas markets continue to tumble

[ZeitgeistObserver]

Overseas markets continue to tumble

Asian markets drop and European shares open lower as a global sell-off widens amid fears of Europe's worsening debt crisis

Jeremiah Marquez

Hong Kong — The Associated Press
Published on Wednesday, Apr. 28, 2010 5:09AM EDT

Last updated on Wednesday, Apr. 28, 2010 7:28AM EDT


Global stocks markets convulsed with selling for a second day Wednesday amid fears that Europe's worsening debt crisis would throw the world economic recovery off track.

Asian markets dropped and European shares opened lower as a global sell-off widened. The euro was poised to resume its slide after plummeting to levels not seen in a year, while oil prices dropped below $82 a barrel.

Concerns about Europe intensified after Standard & Poor's downgraded Greece's debt to junk status and cut Portugal's credit rating by two notches on Tuesday – making it harder for both countries to pay down their debts and raise money to fund their budgets.

Investors have been on edge for months about Greece's fiscal crisis. The country has already acknowledged it can't pay debts due shortly and has asked for a bailout from European neighbours and the International Monetary Fund.


http://www.theglobeandmail.com/report-on-business/overseas-markets-continue-to-tumble/article1549246/

[Turbineguy]

1. Greek Two-year Notes, 23%

Looters lending to looters.

[ZeitgeistObserver]

2. You play, you pay.

[Yavin4]

3. This Is Good News for Us

The weaker Europe is, the easier it becomes for us to borrow worldwide. Cheap access to money is what is fueling this recovery.

[ZeitgeistObserver]

4. Bad news for everyone overall.

Once dominoes start to fall, they all go.