Markets slide on Greek turmoil

World stocks dropped and the euro fell to a four-month low against the dollar yesterday after Greece said it would hold new elections, and worries increased about its possible exit from the eurozone.

Gold touched a four-and-a-half month low, with the euro’s weakness unnerving investors over the profitability of holding euro- denominated assets.

The political turmoil in Greece kept pressure on markets. Investors have been concerned that long-lasting problems in the eurozone and a likely recession will hit global growth.