European shares tumble on Spain credit rating cut

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Source: Marketwatch
Europe's equities fell on Wednesday reflecting drop in investor sentiment after Spain's downgrade in Tuesday evening. Stoxx Europe 600 declined 1.5%, Spanish IBEX 35 plunged 2.6% and Italian FTSE MIB dropped 1.8%. Athens General index lost 3.2% and British FTSE 100 shed 1.7%. German DAX index edged 1.8% lower. 
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Thu, 31 May 2012 08:14:07 GMT

India's quarterly GDP expands less than predicted

Due to European debt woe, India's economic growth for the first three months this year expanded at slower pace than was predicted by analysts. India's GDP for the first quarter added 5.3% compared to an expected gain between 6.5% and 6.7%. Rupee weakened after the release of the data. 

Thu, 31 May 2012 07:52:06 GMT

US shares slip on Spain and Greece fears

US shares erased previous session's gains on Wednesday as borrowing costs in Italy and Spain climbed while Greece renewed threats it may leave Eurozone. S&P 500 index fell 1.43% or 19.10 points and closed at 1,313.32. Dow Jones Industrial Average shed 1.28% or 160.83 points and finished at 12,419.86. Nasdaq Composite dropped 1.17% or 33.63 points settling at 2,837.36. 

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