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Contagion fears go global

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Stocks worldwide plunged as fears about Greece's debt crisis went global, with investors seeing it as an omen of turmoil in other European economies and governments struggling to calm markets.
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Greece to back austerity, anxious markets eye ECB

The Greek parliament prepared to adopt a harsh austerity plan on Thursday in the face of violent unrest, as markets looked to the European Central Bank to prevent a debt crisis engulfing the euro zone.
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Euro zone warned of contagion

European leaders warned on Wednesday that the euro zone debt crisis could spread like a bushfire beyond Greece, and investors sold stocks and the euro as Greek anti-austerity unrest claimed its first lives.
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Wall Street falters as Greece debt fears spread

U.S. stocks slipped on Wednesday on worries that Greece's debt crisis could spread to other euro zone nations, but losses were pared as some investors looked for bargains a day after a hefty sell-off.
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Stocks falter as Greece debt fears spread

U.S. stocks slipped on Wednesday on worries that Greece's debt crisis could spread to other euro zone nations, but losses were pared as some investors looked for bargains a day after a hefty sell-off.
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Wall Street slips as Greece woes linger

U.S. stocks slipped on Wednesday on worries that Greece's debt crisis could spread to other euro zone nations, but losses were capped as investors looked for bargains a day after a hefty sell-off.
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European crisis to hit steel, copper; gold to gain

Even as gold is set to cash in on the European economic crisis, other metals like steel and copper are set to witness a fall following the debt crisis in Greece, Spain and Portugal. The debt crisis has hit several nations in the Europe and the Euro is also struggling. This will help gold because panicked investors will rush to park their money in gold as a safe haven.
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Stock futures dip on Greece concerns

U.S. stock index futures fell on Wednesday as investors continued to anxiously eye the Greek sovereign debt crisis and its potential contagion.
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SocGen pegs Greek exposure, trumps Q1 estimates

French bank Societe Generale pegged its exposure to Greek sovereign debt at 3 billion euros ($4 billion) for the first time on Wednesday after weeks of market fears over the debt-stricken country.
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Merkel, IMF warn of contagion in euro zone crisis

Euro zone policymakers and the head of the IMF warned of looming financial contagion on Wednesday unless a euro zone debt crisis is stopped in Greece, as nervous investors fled to the safe haven of the dollar.
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Global commodity prices tumble on debt crisis

Global commodity prices dropped Tuesday as new doubts about Europe's ability to resolve the Greek debt crisis sparked a global flight from risky investments. Crude oil and other energy contracts tumbled, a day after oil hit an 18-month high. Prices for copper and other industrial metals also fell sharply. The declines in commodities were made worse by a spike in the dollar as investors sought safe places for their money. The rising dollar tends to sap demand from foreign investors for commoditie...
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Greek woes hit Asian shares, euro down

A tumble in global stocks spread to Asia on Wednesday as fears heightened that Greece's debt woes could spread to other countries, which pushed the euro down to one-year lows against the dollar.
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Forex- Can Greece cut its deficit by 11 points by 2014?

Greece has signed up to a package of austerity measures designed to cut its deficit by 11 percentage points between 2009 and 2014, an aim that will deepen the recession and could spark a social backlash. The measures agreed this weekend with the EU and IMF include more tax hikes and steeper cuts in wages and bonuses, in return for a record 110 billion euro ($146.5 billion) bailout. [ID:nLDE64107I] According to the aid plan, Greece will have to save an extra 30 billion euros on top of tough measu...
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Gold may touch $1,300, scrap sales to go up

With bullion analysts predicting a rise in gold prices following the European crisis and the Chinese crackdown on realty, scrap gold sales are set to shoot up. Scarp gold sales are normally up at a time when the gold prices go up as several people rush in to book profits. In April, India witnessed a surge in sales of old gold jewellery after remaining more or less tepid since the beginning of the new year. A consumer who wishes to sell old jewellery to a scrap trader is a contributor to recycled...
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UBS predicts moderate withdrawals after strong Q1

UBS boss Oswald Gruebel predicted moderate asset withdrawals in the short term as the Swiss bank's forecast-beating quarterly results gradually start to boost client confidence and wealth advisors' morale.

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