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| Stock markets fall on fears over Europe's debt crisis | Stock markets fall on fears over Europe's debt crisis |
| (40 minutes later) | |
| Stock markets fell on Monday as a healthcheck on banks failed to stem worries about Europe's debt crisis. | Stock markets fell on Monday as a healthcheck on banks failed to stem worries about Europe's debt crisis. |
| Financial shares were heavy fallers, with Royal Bank of Scotland down 3.8% and BNP Paribas 3.1% lower. | Financial shares were heavy fallers, with Royal Bank of Scotland down 3.8% and BNP Paribas 3.1% lower. |
| In early trading the FTSE 100 index fell 0.9%, France's Cac 40 shed 1.4%, and Germany's Dax was 1.3% down. | In early trading the FTSE 100 index fell 0.9%, France's Cac 40 shed 1.4%, and Germany's Dax was 1.3% down. |
| On Friday, eight European banks failed a stress test on their finances, while another 16 were said to be near the danger zone. | |
| Meanwhile, the price of gold topped $1,600 an ounce for the first time as investors put money into the haven commodity. | Meanwhile, the price of gold topped $1,600 an ounce for the first time as investors put money into the haven commodity. |
| Concerns among investors have also been fuelled by the Obama administration's failure to agree a debt-ceiling deal. | Concerns among investors have also been fuelled by the Obama administration's failure to agree a debt-ceiling deal. |
| The US risks defaulting on its debts unless Congress can agree new rules that will allow Washington to borrow more money. | The US risks defaulting on its debts unless Congress can agree new rules that will allow Washington to borrow more money. |