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Global stocks, euro fall on Greece exit worries
(Reuters) - World stocks skidded and the euro fell to a 21-month low on Wednesday on worries about Greece's possible exit from the euro zone, which threatened to deepen the region's debt crisis and hurt an already fragile global recovery.
Nervous investors piled into low-risk U.S. and German government debt, sending their yields lower. The dollar also was favored as a safe haven by investors.
Each euro zone country will have to prepare a contingency plan for the possibility of Greece's leaving the bloc, three euro zone sources told Reuters, citing an agreement reached by officials.
A scramble for low-risk investments enabled Germany to pay no interest on 5 billion euros in new two-year debt amid the absence of new measures to tackle the region's debt crisis from a European leaders' ...
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Global stocks, euro sag on Greece exit worries
(Reuters) - World stocks stumbled and the euro fell to a 21-month low on Wednesday on worries about Greece's possible exit from the euro zone, which would deepen the region's debt crisis and hurt an already fragile global economic recovery.
Each euro zone country will have to prepare a contingency plan for the eventuality of Greece leaving the bloc's currency, three euro zone sources told Reuters, citing an agreement reached by officials.
A scramble for low-risk investments enabled Germany to pay no interest on 5-billion euro worth of new, two-year debt amid the absence of new measures to tackle the region's debt crisis from a European leaders' summit in Brussels.
"The markets are on edge and sensitive to every possible out-of-control scenario coming out of Europe," said Peter Boockvar, ...
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Global stocks, euro fall on Greece exit worries
(Reuters) - World stocks and the euro fell on Wednesday as investors shunned riskier assets on worries about Greece's possible departure from the euro zone, which would deepen the region's debt crisis and hurt an already fragile global economy.
Each euro zone country will have to prepare a contingency plan for the eventuality of Greece leaving the single currency, three euro zone sources told Reuters, citing an agreement reached by officials.
A scramble for low-risk investments enabled Germany to pay no interest on a new two-year debt issue amid the absence of new measures from a European leaders' summit in Brussels to tackle the region's debt crisis.
"The markets are on edge and sensitive to every possible out-of-control scenario coming out of Europe," said Peter Boockvar, equity ...
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Oil falls as IAEA sees deal with Iran near
(Reuters) - Oil fell on Tuesday in choppy trading as indications a deal may be near on Iran's nuclear program eased worries about oil supply disruptions, countering supportive U.S. home resale data.
The U.N. International Atomic Energy Agency's (IAEA) director said he expected to sign a deal with Iran soon, to boost cooperation with the investigation into Tehran's nuclear activity, although differences remained.
U.S. crude fell more approaching the June contract's expiration at the end of Tuesday's session and ahead of weekly oil data expected to show crude stockpiles rose last week in the United States.
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Global stocks, oil drop on latest euro zone fears
World stocks and oil prices fell on Thursday on concerns about the health of Spain's banks and the prospect of Greece leaving the euro zone.
Adding to pressure on Wall Street stocks was a U.S. government report showing manufacturing in the mid-Atlantic states unexpectedly contracted in May.
The data helped lift safe-haven U.S. Treasuries prices, and pushed the 10-year note yield to just 5 basis points from its lowest level in at least 50 years, while gold prices rallied 2.6 percent.
Worries about Spanish banks resurfaced after a media report said customers of Bankia (BKIA.MC) had withdrawn more than 1 billion euros from their accounts in the past week. The Spanish government said there had been no such exit of deposits.
Shares of the partly nationalized Bankia fell 13.5 percent but ...
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Oil down as equities dip on Greek, euro zone woes
Crude oil futures tumbled on Wednesday, coming under pressure with U.S. equities, as banking troubles in Greece further highlighted the euro zone debt crisis, sparking risk aversion across markets.
The European Central Bank confirmed a Reuters report that it has stopped providing refinancing to some Greek banks as they are severely undercapitalized, keeping oil and other commodity prices pinned down.
The ECB move had erased an uptick in oil prices in morning trading after U.S. data showed that domestic stockpiles rose much less than what an industry group reported late on Tuesday.
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U.S. stocks, euro fall on ECB news, Fed minutes
U.S. stocks and the euro slid on Wednesday on news that some Greek banks face emergency funding needs, while minutes from the Federal Reserve's April meeting showed U.S. economic prospects remain sobering.
The European Central Bank stopped funding operations for some Greek banks as they are undercapitalized, the ECB said, confirming a Reuters report that fanned concerns about Greece's financial difficulties.
The Reuters report highlighted the weak state of the banking sector in Greece, where many Greeks are withdrawing money from banks out of fear their country may soon leave the euro zone.
The euro traded just below break-even and shares in Europe closed lower in choppy trade as worries mounted over the stability of the euro zone. Greece plans to hold elections in mid-June that will ...
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U.S. stocks trim gains, euro falls on ECB talk
U.S. stocks trimmed gains and the euro retreated on Wednesday on speculation that the European Central Bank has stopped funding operations for some Greek banks, rekindling fears of messy financial woes for Greece.
Euro zone central bank sources said the ECB had stopped refinancing operations with some Greek banks. The ECB, which refinances only solvent banks, declined to comment.
It was unclear exactly how many banks were affected.
One person familiar with the matter said four Greek banks' capital was so depleted they were operating with negative equity capital.
Investors have been on tenterhooks over fears of a Greek exit from the euro zone and the financial losses that could cause the financial system.
U.S. stocks pared early gains from encouraging U.S. economic data and the euro ...
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Oil falls $1 on rise in U.S. stocks, economic woes
Oil prices fell more than $1 on Wednesday as a larger-than-expected rise in crude stocks in top consumer United States and fears of Greece's exit from the euro zone muddied the outlook for demand growth.
Investors are worried about the demand for oil as a prolonged political crisis in Greece may push Europe into a deeper financial mess at a time when China is slowing and the U.S. economy remains fragile. Yet, limited spare capacity and fears of a supply disruption have put a floor under prices.
Brent crude slipped as low as $111.20 a barrel and traded at $111.25 by 0318 GMT, sliding for four out of the past five sessions. U.S. oil fell $1.23 a barrel to $92.75, the lowest since December 19.
"A further $2-$3 fall is acceptable under current conditions," said Tetsu Emori, a Tokyo-based ...
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