Europe Stocks Slump Ahead of EU Summit

Plenty of gloom and doom continuing for euro and eurozone
By Mark Russell,  Newser Staff
Posted Jun 25, 2012 3:11 AM CDT
Updated Jun 25, 2012 4:00 AM CDT

(Newser) – European stocks and the euro all fell this morning, as investors remain skeptical that this week's EU summit is going to accomplish much of anything, reports the Wall Street Journal. The euro fell to $1.2490 from $1.2574 last Friday, while indexes were down across the continent, with the Stoxx 600 index down 0.9%. Yields on 10-year government bonds for Spain and Italy rose. "We expect the pressure on both Europe and its financial system to resume, encouraging further depreciation of the euro," said one analyst. (Read more European Union stories.)

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