Financial Markets Tumble on Recovery Worries
LorieFuller31Financial markets slumped on Tuesday amid worries over the economic outlook in the Eurozone. Moreover, as deadline of the Greek PSI approaches, investors feared that the demand would be short of 75% and lead to a disorderly default of Greek debts. Wall Street tumbled with the DJIA and the S&P 500 index losing -1.57% and -1.54% respectively. In the commodity sector, the front-month contract for WTI crude oil plunged to a 3-week low of 104.51 before settling at 104.70, down -1.89%. The drop in oil prices was also driven by possible talks between Iran, and the US and its Western allies.
Original post:
Financial Markets Tumble on Recovery Worries
