Global stocks witnessed a sell off as the European crisis deepened sending jitters across the markets. Hong Kong’s Hang Seng seemed weakest of the lot, down 537 points or 2.84% lower at 18917-points, below the psychological 19000-mark. In fact, except for Nikkei 225 of Japan, none of the Asian markets managed to stay afloat in green.


Straits Times of Singapore pared 31 points at 2757 and Taiwan Weighted index showed weakness of 1.3% on the bourses. Even European indices FTSE 100, CAC 40 and DAX showed losses ranging from 2% to 3%, on the back of lack of positive announcement in Europe and the realization that Greece has no way out without wrenching prickly pain.

America’s Dow Jones and S&P futures showed half percentage point cuts in the estimation for evening’s opening bell. The fear among the investors further worsened as European finance heads failed to come up with a consensus-driven plan, or rescue package for Greece, to solve the region’s debt woes.

Now, it remains a matter of debate whether Greece need to default on its obligations or exit from the euro zone to revive from the financial mess.

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