Stock markets in Asia and Europe declined sharply following Sunday’s announcement by the Greek government that it will likely fail to meet it deficit cutting targets. Greece’s deficit is now projected to be 8.5% of GDP, down from 10.5% in 2010 but short of the 7.6% target set by the EU and IMF.
North American stock markets are expected to follow suite when they open Monday morning. Both the Dow and S&P 500 futures were 0.6 percent at 9:20 am in New York.
Source: BBC News
