08 Jun '11, 6pm

Stocks hit by growth worry; oil rises after OPEC

NEW YORK (Reuters) - U.S. and European stocks fell for a sixth day on Wednesday on worries about a bleak global economic outlook, while oil prices jumped after OPEC failed to reach an agreement to increase output. The U.S. dollar hit a one-month low below 80 yen as risk aversion rose, but it rallied against the euro after weaker-than-expected German economic data and on uncertainty over a second Greek bailout package. Federal Reserve Chairman Ben Bernanke on Tuesday acknowledged that the U.S. economy had slowed but offered no hint that the central bank is considering further stimulus to support growth. Bernanke's comments, combined with recent weak U.S. labor and manufacturing data, stoked fears that a slowdown in the world's largest economy could dent global growth. "The question marks regarding the growth dynamics for the global economy are becoming bigger and this is we...

Full article: http://sg.news.yahoo.com/stocks-hit-growth-worry-oil-rise...

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