Euro reaches parity as nervous markets shed further billions

FURTHER billions were wiped off European and US stock markets yesterday as continuing fears about the recovery in the US economy refused to go away.

Undermined by corporate scandals, the mighty dollar was eclipsed by the euro which rose above parity for the first time since February 2000.

In late trading yesterday afternoon the euro was still changing hands at $1.006 having achieved the parity level by midday.