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Asian Stocks, Euro Slip On Europe Debt Concerns

A woman makes a bank transaction during an Athens rally against austerity measures in Greece.
Asian stock markets have fallen and the value of the euro has hit a new one-year low amid continuing concerns over the European Union's response to Greece's debt crisis.

The euro today slipped to $1.2956, down slightly from its close in New York on May 4, while stock markets in Hong Kong, Shanghai, Australia, Indonesia, and Singapore were all down.

Stock markets in Europe and the United States fell sharply on May 4 amid reported concerns among investors that the EU-IMF rescue plan for Greece won't be successful and that the debt crisis could spread to countries such as Spain or Portugal.

With the euro down and the value of the dollar up, the price of crude oil has also fallen, down 4 percent on May 4 in New York to $82.74 per barrel.

compiled from agency reports