Europe gets cloudy, pulls markets down

European equities slid nearly 3% yesterday as the euro dropped to an 11-month low of 1.29 against the dollar, after a grim Italian bond auction.

December 15, 2011 / 09:42 IST

European equities slid nearly 3% yesterday as the euro dropped to an 11-month low of 1.29 against the dollar, after a grim Italian bond auction.

The auction of the five-year Italian treasuries saw yields jump to 6.47%, the highest since the euro was created.

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first published: Dec 15, 2011 08:08 am

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