Asian stocks tumble on European election results07/05/2012 - 08:49:57
Asian stocks are sliding after elections in Greece and France heightened uncertainty about Europe’s ability to solve its debt crisis.
Japan’s Nikkei 225 index has plunged 2.5% to 9,142.47. Hong Kong’s Hang Seng tumbled 2.5% to 20,564.87. South Korea’s Kospi shed 1.7%.
In Greece, which has been battling a severe debt crisis for more than two years, no political party won enough votes to form a government.
In France, President Nicolas Sarkozy lost to Socialist candidate Francois Hollande, who had criticised the country’s austerity programme and wants to boost government spending.
On Friday, US stocks plunged after the government reported that hiring slowed sharply in April.