Morning in brief: Spain and Italy could spark recession, US equity markets fall

10 April 2012 | By fundweb staff

International
Foreign-exchange forecasters have told Bloomberg that the euro is expected to drop 5% to $1.24 by the end of 2012. Spending cuts from Spain and Italy are predicted to “reignite debt turmoil and drag the region into recession.”



Markets
US equity markets extended losses to a fourth day yesterday following U.S. non-farm payrolls data which failed to meet expectations, reports Reuters. Both the Dow Jones and the S&P 500 continue to fall as concerns over the stability of a recovery in the US rise.



Companies
Facebook announced that it will acquire photo-sharing app Instagram for an astonishing $1 billion (£629m), reports the BBC. Instagram was launched less than two years ago and claims to have 30m user per day.

To receive more relevant articles like this one, why not sign up to our briefings and breaking alerts by clicking here and Follow @fundweb