By Elaine Donnelly
Extending sexual misconduct to combat units
Independent voices from the TWT Communities
Fear that Spain may need a bailout sent its borrowing costs soaring, the euro to a two-year low against the dollar and stocks around the world tumbling as investors pulled back Monday from all manner of risk.
A political stalemate in Greece rattled financial markets worldwide on Monday, sending U.S. stocks lower.
Consumer prices rose modestly in January on higher costs for food, gas, rent and clothing.
The French finance minister said Friday that Standard & Poor's had stripped the nation of its top-notch credit rating, again throwing Europe's ability to fight off its debt crisis into doubt.
Stocks closed sharply lower Monday after two big rating agencies criticized a fiscal pact between European leaders last week that is aimed at easing the region's debt crisis.
Investors began giving in to fears Thursday that a global recession is already under way.
Stocks surged Thursday after another strong batch of earnings reports revived optimism about the economic recovery. Encouraging signs of growth in Europe added to the upbeat mood.
"Increases in Spanish borrowing costs have brought back questions about the health of Europe," said Guy LeBas, chief fixed income strategist at Janney Montgomery Scott in Philadelphia. "That's driven a flight to safety."
