Lebanon News: Debt Crisis Pushes Stocks to 15-Year Low - Bloomberg:
Lebanon’s stocks are bearing the brunt of the nation’s funding crisis and the World Bank’s warning of a deeper recession. While investor attention has been focused on the possibility of a default in a government bond due next month, the equity benchmark has been hammered by nationwide discontent and a dollar squeeze. The gauge posted the worst weekly decline in almost 14 years and fell to the lowest level since February 2005.
Lebanon’s stocks are bearing the brunt of the nation’s funding crisis and the World Bank’s warning of a deeper recession. While investor attention has been focused on the possibility of a default in a government bond due next month, the equity benchmark has been hammered by nationwide discontent and a dollar squeeze. The gauge posted the worst weekly decline in almost 14 years and fell to the lowest level since February 2005.
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