Eurozone Crisis Haunts Global Market

Global-MarketIt seems that it would take some time before concerns attached to Europe's debt crisis could die down, as it has been revealed that global stock markets could not deliver the expected results on Monday. Though there were a few economic indicators in favors, the market could not match up with the same and drifted lower in lackluster.

Dollar was seen moving up against the euro and the yen, while Benchmark oil was seen over $106 per barrel. It is believed that the slowdown observed in the second-largest economy of the world, China, has somehow affected the morale of the investors. It was china which could sustain the economic crisis in the last few years, and that’s why it is being counted to such a level.

Owing to the fears over Europe's debt crisis, world stocks could not gain much. The issue has got the attention once again after, eurozone's fourth-largest economy; Spain’s condition came into notice, which further added weight to the already lingering concerns.

“The fact that there is pressure to increase the size of the funds reeks of persistent fears over the damage that can still be done by contagion”, said Jane Foley, an analyst at Rabobank International.