News / Business

Global stocks tumble amid Greece fears

Monday, 29 June 2015 2:11 PM [ Last Update: Monday, 29 June 2015 2:36 PM ]

Traders work at the stock exchange in Frankfurt on June 29, 2015. © AFP

Stocks markets around the world have sharply declined amid growing fears that Greece may default on debts and leave the eurozone.

In Asia, the Shanghai composite index closed 3.3 percent lower after plunging more than 7% earlier on Friday. Japan’s benchmark Nikie stock average sank 2.9%, with the Australian market falling 2.2% in Sydney.

European markets also were jittery on Monday. In afternoon trade, French and German stocks fell by more than 3%. London’s FTSE 100 index was down 1.5%.

Meanwhile, the euro lost ground against other major global currencies. The single currency fell as much as 1.5% versus the dollar and 2.5% against the yen.

Greece’s deepening debt crisis also jolts US stocks in early trade. The Dow Jones Industrial Average fell 0.6%fell with S&P 500 and Nasdaq Composite indexes falling 6% and 7% respectively.

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