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European stocks, euro tumble after Berlusconi resignation

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,…

World markets slide, oil soars on Libya unrest

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…