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World stocks fall on dismal US hiring report
World markets took a beating Monday as another setback for the US economic recovery sent investors fleeing from stocks.
A weak US jobs report flustered investors and intensified fears that a global recession was in the making. The dismal report released Friday came on the heels of other data that showed weak economic conditions in Europe and Asia.
Unemployment in the 17 countries that use the euro currency stayed at a record-high 11 per cent in April. And there were signs that growth in China, which helped sustain the global economy through the 2008-2009 recession, is slowing significantly. China’s manufacturing weakened in May, according to surveys released Friday.
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