Amsterdam stock market hits low

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Amsterdam’s AEX stock market index hit its lowest point for nearly a year on Tuesday. It closed just a little higher at 320 points.

Worries about the European debt crisis, the United States’ creditworthiness and global economic growth were being blamed for the poor performance of Dutch stocks. The other major European markets were also down.

Gloom Insecurity on the Amsterdam trading floor was heightened by the continuing fall in the value of Italian and Spanish government bonds. The interest charged on the two countries’ loans have hit their highest levels since 1997. The development has fed fears that the two southern European economies will be the next victims of EU debt crisis.

The gloomy mood on the Amsterdam market was not helped by bad news from the USA. American consumers spent 0.2 percent less in June than in the same month a year ago, while economists had been predicting a slight increase in US consumer spending.

© Radio Netherlands Worldwide

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