6:04 am May 21, 2010, by Henry Unger
Today is a big day on Wall Street. Can U.S. investors break the fall that has been gripping world markets recently?
Once again Friday, world markets tumbled, extending a wave of selling amid growing fears that Europe’s debt crisis could spread and undermine global economic growth, Associated Press reports.
In early trading in Europe, markets in Britain, Germany and France all fell.
That follows retreats in Japan, Australia, Indonesia, Singapore and India, AP wrote.
But stock futures on Wall Street pointed to modest gains following the Thursday’s big sell-off, AP said. The Dow plunged 376 points yesterday.
Investors fear debt problems in countries like Greece and Portugal will spill over to other countries in Europe, AP said. That could then trigger a cascade of losses for big banks and, in turn, hinder economic recovery in the U.S. and elsewhere.
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