European stocks closed sharply lower Wednesday as any early optimism that the resignation of Italian Prime Minister Silvio Berlusconi would calm the markets disappeared in a wave of near panic. Dealers said investors first thought Berlusconi’s decision would clear the decks but as it became clearer that Italy faces possibly months of political uncertainty,…
LONDON (AFP) – Global markets dived Tuesday and oil prices spiked above $108 per barrel, as sentiment was rocked by violent unrest in Libya, while the safe-haven US dollar gained ground. “The revolutions in Tunisia and Egypt are continuing to spread across the region. It seems to be Libya’s turn…