| GEO Business | | Asian stocks plunge as euro falls to 4-year low | Updated at: 1127 PST, Monday, May 17, 2010
SINGAPORE: Asian stock markets tumbled Monday on investor concern the Europe debt crisis will worsen as the euro fell to a4-year low.
Japan's benchmark Nikkei 225 stock average dropped 260.36 points, or 2.5 percent, to 10,202.15, while South Korea's Kospi lost 2.8percent to 1,648.04 and Australia's S&P/ASX 200 index was down 2.6percent at 4,491.30.
China's benchmark index in Shanghai tumbled 3.6 percent, Hong Kong's Hang Seng index lost 2.5 percent, India slid 2.3 percent and Thailand sank 2.8 percent.
Asian investors are concerned that cost-cutting fiscal measures being taken by Greece, Portugal and Spain could hamper a recovery in the eurozone economy and undermine export demand.
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