Gloom in Europe hits global and Gulf markets - The National

Gloom from the euro zone cast a shadow over equity and oil markets as investors fretted about a new Europe-wide recession.

Weak economic data combined yesterday with political uncertainties hanging over the Netherlands and France to stoke fears about the ability of the region's governments to fight the European Union's fiscal crisis.

"It is a negative outlook, quite clear, you only need to look at the chart on the euro to see that," said Neil Mellor, a currency strategist at BNY Mellon in London.

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