Global markets tumbled yesterday as fears grew that the eurozone debt crisis was deepening and worries rose over the health of the Chinese economy.
A sell-off in Asian markets accelerated in Europe and the US amid heightened concerns that the €110bn ($143bn) international rescue package for Greece was not enough to prevent contagion spreading to other eurozone debt markets.
The euro dropped to a one-year low against the dollar, European stocks plumbed two-month lows, while the bond markets of the weaker eurozone economies fell as rattled investors sought to sell.
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