Weak China data prompts retreat in stocks and copper as euro take a dip

GLOBAL stocks and copper prices fell from recent highs yesterday after weak data from China reinforced concerns about the global economy, while the euro dipped on lagging worries over the European debt crisis.

The European Central Bank warned about the effect of bondholder write-downs, and investor unease on the effectiveness of current measures to prevent the spread of the eurozone debt crisis could be seen in the rise in yields on Italian bonds.

Major stock markets had recently jumped sharply on hopes the debt crisis was close to being resolved.