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Markets in turmoil as euro fears spiral
The pound fell to its lowest level against the dollar since mid-October, the euro hit an eight month low against the greenback and the FTSE closed down 2.2pc at 5138.31. Fears of a sovereign debt crisis among Europe's economically weaker nations and disappointing jobless and service sector data in the US hit stock markets on both sides of the Atlantic. The Dow Jones index fell 207 to 10063.55 as investors all but ignored the release of positive retail sales data in the US. Gold traded 2.4pc lower at $1,082.88 per ounce while crude oil was down as much as 5.4pc to $72.86 a barrel. Fears that the Greek debt crisis had ... (full story)