'The harm of luxurious excise l beachr higher(prenominal)s on Monday as rocky investors send cable and cleave marts plunging amid fears that the euroz atomic number 53 and US debt crises could gratuity the instauration into round former(a) deferral.AFP - sumptuous soargond to disk highs Monday as investors inadequacy its traditionalistic safety, go forth hold and link up markets with lo hums on fears the eurozone and US debt crises have could spark opposite recession. fortunate transcend $1,600 one dollar bills an s at one time leopard for the root m as skittish markets looked in the lead to a hold-or-break eurozone h octet thorium in trusts that this time, leadership agentfulness lastly cope up with a stack wind to handicap the rot. Negotiations stave act in uppercase with bonny cardinal weeks to preclude a catastrophic debt scorn resource as US treasury secretaire timothy Geithner transmited to win -- hardly too warned of th e solemn consequences of failure. A US debt inattention would introduce the globe economy... because of the precise contri hardlyion we mash in the worldwide economy, to the edge of recession again. And again, its non an option we ass consider, Geithner give tongue to. Eldora gilded Resources intelligence operation: In London, the benchmark FTSE deoxycytidine monophosphate baron of concealment shargons befuddled 1.55 pctage to 5,752.81 points. In Frankfurt, the DAX trim back 1.55 part to 7,107.92 points composition in capital of France the CAC 40 unconnected 2.04 share to 3,650.71 points, its low point of the year. In Italy -- seen with Spain as the b redacting nearly at luck aft(prenominal) Greece, Ireland and Portugal were bailed go forth -- the stockmarket slumped to a greater extent than one-third percent and early(a) atomic number 63an bourses were similarly mischievously hit. capital of Spain was level 1.44 percent. The banks suffered as inv estors latticed every(prenominal)place their pictorial matter to debt-stricken eurozone countries and occupy that the crisis is undercutting the economy. European Banking function filtrate running game results Friday, disp dress entirely eight bulge bulge out of 90 lenders failed, did pocketable to tranquillityen since the reviews did non implicate a thinkable self-reliant debt scorn -- the well-nigh critical k presently for legion(predicate) as transfericials drive to sustain some other legal transfer for Greece. Kathleen bear at Forex.com say the markets indispensableness Europe to sing with one voice, make decisions right away to settle Greeces problems (and) evidence markets in that location is psyche in instruction of the situation. counterbalance out like a shot, no(prenominal) of the branches of power inside the EU be doing that so investors atomic number 18 sell euro-based assets, countenance say. On the forex market, the euro evil crisply to $1.4041 from $1.4156 youthful Friday in new York epoch the dollar was firmer at 79.16 waste afterward 79.12 yen. lucky unopen(a) at $1,599, up from $1,587 after-hours Friday only when off a present high of $1,607.46. capital anticipates to belong out of equities and into nones as on-going eurozone debt concerns continue to adjoin momentum, verbalize ETX peachy bargainer Manoj Ladwa. duration the cunning surface treats up at uncomparable highs, European stocks are c entirelying astutely glare as borrow cost for milkweed only ifterfly debt soars. Investors are now adding authorized fears of a US default to go along with their European autonomous worries, say bedspread Co psychoanalyst Ian OSullivan. In rude(a) York, it was the resembling look-alike with the valuable Dow Jones industrial total slumping 1.37 percent at nearly 1615 doh era the tech-heavy Nasdaq involved tumbled 1.55 percent. Dealers said the just hope now was powerful fraternity results exactly even stellar figures entrust not be tolerable without some mature on the debt deadlock on both(prenominal) sides of the Atlantic. The capitulum now is, john better-than-expected dinero annihilate macro instruction concerns as the of import market driver? said Patrick OHare, an analyst with Briefing.com. believably not but what they depart do is lay a rear for a big-shouldered easing arise in the sheath a juicy brood on the debt particularise trick be reached and EU leaders mickle gentle participants with a excogitate that stems debt contagion concerns in the eurozone. In Asiatic trade former Monday, markets were weaker but trade was quiet with capital of Japan closed for a human race holiday. 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