European, Asian markets slide as debt worries grow for Italy, Spain
http://dervishcom.blogspot.com/2011/08/european-asian-markets-slide-as-debt.html
LONDON — Fears of a U.S. default may have abated in the wake of a compromise agreement, but the debt crisis in Europe only deepened Wednesday as two giant economies — Italy and Spain – struggled to contain escalating investor panic over their ability to pay bills.
Along with signs that fiscal austerity is already slowing growth in Europe and worries that budget cuts could put the breaks on the already slowing U.S. economy, rising concern over highly indebted Italy and Spain drove stock markets sharply lower across the region early Wednesday.
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Source: http://feeds.washingtonpost.com/click.phdo?i=98dd397967e5f05056b4ae89aec6be9b
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