World stock markets suffer as Greece closes banks, stock exchange

Laura Miller

European stocks are seeing heavy losses this morning and financial markets took a hit across Asia overnight as Greece said its stock exchange will be shut on Monday and banks closed all week after a decision by the European Central Bank (ECB) not to extend emergency funding to the country.

London's leading FTSE 100 index fell more than 2% in early trading before pulling back marginally to sit at 6,654 - about 100 points lower - by 09:30. The continent's markets have been hit harde...

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