Major markets were down around 1 percent, while the euro headed toward its lowest trait against the dollar in about nine months. Oil prices slipped below $80 a barrel.
Without thought solid overnight gains in the U.S. and Europe, Asian stocks were impotent to hold their early advance as Greece's crisis and the likelihood of spillover effects led investors to cut back their bullish bets.
Touchstone & Poor's, one of the three leading credit ratings agencies, warned Wednesday it could cut its rating on the boondocks within a month. Meanwhile, Greece was convulsed with labor protests over austerity measures demanded by the European Joining to ease the crisis.
Worries about Greece outweighed more assurances from U.S. Federal Put aside Chairman Ben Bernanke borrowing costs will stay at daze-bottom lows. Speaking to lawmakers, Bernanke said low rates were needed "for an extended years" to help keep the economic recovery on track and Americans indefatigably-hit by high unemployment and falling housing prices.
In Japan, the Nikkei 225 oxen average fell 96.87 points, or 1 percent, to 10,101.96. Shares of Toyota Motor Corp. edged down 0.2 percent after president Akio Toyoda, appearing before U.S. lawmakers, apologized for aegis lapses that have led to deaths and widespread recalls.
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Bernanke shores up rebound in European, US markets Australia's peddle fell 1.5 percent and Singapore lost 0.7 percent. However, Shanghai's market-place bucked the broader selling, rising 1.3 percent. |
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Lords Second Reading - Financial Services Bill I am encouraging that noble Lords will view the usefulness of this forum from a pragmatic perspective, rather than maintain on institutional chopping and changing |
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