Markets News Afternoon: Stocks slide in Europe and US as sovereign debt worries rise; Euro below $1.38; Trichet says ECB’s interest rate are “appropriate”
Feb 4th, 2010 | By Finfacts Ireland Business & Finance Portal | Category: News worldwide
Stocks fell in Europe and the US Thursday as macroeconomic issues came to the fore with The Wall Street Journal reporting that the cost of insuring the debt of Eurozone members with large budget deficits against default rose, dashing hopes that the European Commission's qualified endorsement of Greece's budget plan would calm investor fears. Greece, Portugal and Spain were in focus, with their five-year sovereign credit default spreads moving sharply wider.