Financial markets tumbled in US morning amid disappointing macroeconomic data and lingering concerns over the Eurozone. Wall Street opened lower with both DJIA and S&P 500 losing more than -1.0%. In the commodity sector, crude oil slumped with the front-month WTI crude oil breaking below 90 and diving to 87.49, a level not seen since October 2011, while the equivalent Brent crude contract plummeting to as low as 103.23. Gold also tumbled as the euro declined to 1.24 against the greenback. The yellow metal initially dropped to as low as 1530.4 before recovering to around 1550. Further weakness is expected in the near-term.
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Markets Slump as Italy Auction Misses Expectations, US and EZ Data Disappoint
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