Tuesday, June 29, 2010

My Way News - Stocks skid on renewed fears of global slowdown
My Way News reports: "Stocks and interest rates plunged Tuesday after signs of slowing economies from China to the U.S. spooked traders who were already uneasy about a global recovery. The Dow Jones industrial average fell 268 points, or 2.7 percent, and dropped below 10,000 [...] A drop in the euro to $1.2181 was another sign of traders' nervousness. A slide in the 16-nation currency has for months indicated fading confidence in Europe's ability to handle big budget deficits. Greece is required to make the cuts under terms of a bailout from other European Union members and the International Monetary Fund. Protests over government cost-cutting in Greece renewed concerns about how well European countries will be able to stick to austerity plans.

My Way News - Masked protesters clash with Greek police
My Way News reports: "Dozens of masked youths clashed with police at a union protest Tuesday in Athens during the country's fifth general strike this year against the cash-strapped government's planned pension and labor reforms."

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