Thursday, December 17, 2009

World stocks drop as dollar hits 3-month euro high

World stock markets fell Thursday while the dollar strengthened to a three-month high against the euro after the Federal Reserve signaled it would start undoing some of its emergency supports next year as the economic recovery gathers pace.

In Europe, the FTSE 100 index of leading British shares was down 31 points, or 0.6 percent, at 5,289.26 while Germany's DAX fell 28.08 points, or 0.5 percent, to 5,875.35. The CAC-40 in France was 22.32 points, or 0.6 percent, lower at 3,853.50.

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