Financial markets tumble on news of unrest in Greece and Spain

Posted: September 27, 2012 in Euro, News
Tags: , , , , , , ,

The Extinction Protocol

September 26, 2012LONDONClear signs of the political and social cost of the euro zone crisis sent financial markets tumbling Wednesday as debt-laden Greece faced a crippling 24-hour strike and Spain cleaned up after violent protests Tuesday near the country’s Parliament. Spanish bond yields approached 6 percent for the first time in months, while European shares and the euro fell sharply, as developments in Greece and Spain sent a new wave of anxiety through the ranks of international investors. The Euro Stoxx 50, a measure of euro zone blue chips, was down 1.60 percent in early trading Wednesday. National indexes were also down by between 1 percent and 3 percent. The euro was at $1.2865, down from $1.2950 late Tuesday in New York. The single currency had dipped to $1.2856 at one point, its lowest level in two weeks. The yield, or interest rate, on Spanish 10-year…

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