Asia Misery Extended to European Markets

June 29,2015 (LBO) -The European markets fell sharply on Monday following the dramatic drop in Asia markets in earlier Monday, spooked by a possibility of Greece walking away from the debts.

In France CAC40 fell by nearly 5%, in Germany DAX by 3% and in Britain FTSE 100 by 2.2%.

The Greek debt crisis also hit the Euro hard, which lost 1.5%. Crude oil prices too took a hard hit.

Chinese market has been the worst hit. It lost 7% on Monday bringing the total losses during last two weeks to 25%.