World markets end mixed on Europe worries

By Grace Wong and Julianne Pepitone


NEW YORK (CNNMoney.com) -- World markets ended mixed Monday, with Asian stocks diving and European indexes paring losses.

Ongoing worries about Europe's economy led to another drop in the euro and caused anxiety among investors. The euro kept sliding against the dollar and fell to a four-year low below $1.23 Monday morning, but regained ground later in the day as European stocks rose.

Uneasiness settled over investors when markets opened in Europe, but the major indexes turned around in mid-morning trade. By the close of the session, France's CAC 40 ended down 0.5%, Germany's DAX gained 0.2% and Britain's FTSE 100 settled flat.

The Asian stock declines were led by China, where the Shanghai Composite sank 5.1%. Japan's Nikkei closed 2.2% lower and the Hang Seng in Hong Kong tumbled 2.5%.

Meanwhile, U.S. stocks were falling in afternoon trade, with the Dow Jones industrial average (INDU) losing 90 points, or 0.8%.

Despite a bailout plan for Greece, there is still much uncertainty about Europe's debt problems, which has weighed heavily on the zone's currency.

On Friday, the euro broke through key technical levels, which accelerated the selling and raised concerns that the shared currency could fall as low as $1.20.

Worries may ease this week if Greece makes its first big debt payment Wednesday, as expected. The May 19 deadline, when the nation must pay back more than $11 billion dollars, has been one of the factors causing anxiety among investors. To top of page

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