Financial Markets Tumble on Geopolitical Tensions and Fears over China's Demand

What happened today has drawn a bit of the market focus from sovereign crisis in peripheral European economies. Unfortunately, the incidents only hurt market sentiment further, instead of recovering it. South Korean military reported that North and South Korea exchanged military fire this morning and at least 1 South Korean soldier was killed and 13 injured. Korean won and many Asian currencies weakened as investors sought shelter in the US dollar. News said that China's biggest banks are close to reach their lending quotas and will stop making new loans to avoid exceeding the limits.

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Financial Markets Tumble on Geopolitical Tensions and Fears over China's Demand