The euro has continued its slide against the dollar, reflecting the continued loss of investor confidence in some European economies. The euro has fallen to $1.2954 - its lowest level for more than a year. Share markets in Asia also dropped after heavy falls in Europe on Tuesday.
The Singapore market was down 1.5% and Hong Kong's Hang Seng index fell 2.1%. Investors remain concerned over the debt crisis in Greece, and the fear that it may spread to other economies. On Tuesday, the Spanish Prime Minister Luis Rodriguez Zapatero was forced to deny rumours that Spain would be next to seek financial rescue, following the agreement of a 110bn-euro ($143bn; £95bn) bail-out package for Greece over the weekend.
The above article was extracted from Skyline updates of Skyline College. Skyline College is amongst the top MBA and BBA institutes in Delhi, Gurgaon (NCR).
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