A “tsunami of bad news” hit world markets today as fears over the viability of the eurozone rescue package and the health of the financial sector caused traders to sell shares.

GOLD rose 2% yesterday in a risk rally with equities and commodities, as the dollar tumbled after a renewed Franco-German pledge to introduce a plan to resolve the eurozone’s debilitating debt crisis.

THE EU-IMF investigators will uncover significant fraud and corruption in their examination of the Irish banking sector according to a leading European economist who worked with the IMF.

A strengthening dollar and worries about an overheated market hit stocks today.

Financial stocks dragged Wall Street lower today as traders worried that last week’s rally was overdone.

Wall Street took a tumble today on renewed concerns about the financial sector and FedEx Corp’s warning that weakening demand and surging fuel costs would weigh on profits in the coming year.

US stocks slumped today as investors fretted over a rise in unemployment claims and the prospect of more bank failures.

Investors showed some Christmas cheer today as the FTSE 100 Index gained more than 1%.