Euro falls as worries increase

The euro fell below $1.24, near a two-year low last night, as Italian borrowing costs soared and concerns mounted over Spain’s banking sector.

Benchmark US Treasury yields fell to their lowest levels in at least 60 years yesterday, and stocks and commodities sold off as fears over the deepening eurozone debt crisis gripped investors.

All three major indexes on Wall Street fell more than 1%, and European and global shares also fell by more than 1%.