World stock markets

[centsgirl]

World stock markets and the euro fell Friday on worries that Europe's fiscal austerity measures and very high unemployment in the U.S. will slow down the global economic recovery.Will we ever recover?

Britain's FTSE 100 slid 1.8 percent to 5,333.80, Germany's DAX dropped 1.4 percent to 6,161.67 and the CAC-40 in France was down 2.7 percent to 3,629.82.

The euro fell as low as $1.2433, its weakest since November 2008 and down from $1.2520 yesterday, before climbing back to $1.2466 in afternoon European trading. On Monday, the 16-country common currency had rallied as far as $1.31 on news earlier this week of a new European loan backstop for indebted government.