10,093.82
-350.55 (-3.36%)
Real-time: 1:01PM EDT
World stocks tumble as debt woes rumble on
Further weighing on sentiment was the news that new claims for unemployment benefits in the U.S. rose by 25,000 to a three-month high of 471,000 — the consensus in the markets was for a modest fall to 440,000.
The worry is that high unemployment in the U.S. will act as a drag on the recovery.
“The increase in claims has triggered double-dip (recession) fears,” said Neil Mackinnon, global macro strategist at VTB Capital.
http://news.yahoo.com/s/ap/20100520/ap_on_bi_ge/world_markets_23