Asia Stocks, Oil Drop on Europe Crisis

uggs on sale Asian stocks and oil dropped a third day, while the euro touched the lowest level in more than a decade against the yen, on concern Europe's debt crisis will worsen. The Australian dollar fell to a one-year low before the central bank meets to decide on interest rates. The MSCI Asia Pacific Index declined 1.6 percent as of 9:05 a.m. in Tokyo, heading for its lowest close since July 2009. Standard & Poor's 500 Index futures were little changed. The euro traded at 101.09 yen after earlier dropping to 100.76, the weakest since June 2001. Crude sank 1.8 percent to $76.21 a barrel in New York, while copper tumbled 3.8 percent to $6,725 a metric ton in London.

uggs for sale European finance ministers meeting yesterday considered "technical revisions" to a July deal for a second Greek bailout, indicating that bondholders may have to take bigger losses on the nation's debt. German Finance Minister Wolfgang Schaeuble opposed moves to increase the scale of the euro rescue fund, damping speculation of a breakthrough in Luxembourg talks to quell the debt crisis. "Investors are focused on European sovereign debt, they're focused on European banks, and they're worried about the end game for Greece and the possible contagion to Italy and Spain, and right now that's trumping everything else," Russ Koesterich, the San Francisco-based global chief investment strategist for the IShares unit of BlackRock Inc., said in a Bloomberg Television interview.

louis vuitton outlet His firm oversees $3.66 trillion as the world's largest asset manager. "The market is not likely to bottom until we see some signs of clarity in Europe." Almost eight shares fell for every one that gained on MSCI's Asia Pacific Index, which started the fourth quarter with a 2.6 percent drop yesterday. The gauge is down 21 percent for the year. Japan's Nikkei 225 Stock Average slipped 1.7 percent and the Kospi Index tumbled 4.8 percent in South Korea, where financial markets were closed for a holiday yesterday. China remains shut for the rest of the week.

www.uggsonsalemart.com The benchmark U.S. stocks gauge dropped 2.9 percent yesterday to close at the lowest level since Sept. 8, 2010. A Commerce Department report today may show factory orders were little changed in August, after a 2.4 percent gain the prior month, according to economists surveyed by Bloomberg. Yields on 10-year Treasuries climbed one basis point to 1.77 percent after dropping 16 basis points yesterday. Thirty- year yields sank 19 basis points yesterday to 2.73 percent, the lowest level since January 2009, after the Federal Reserve bought $2.5 billion of longer-term debt.