World equity markets tumbled and gold shot to a new record high on Thursday as renewed worries about Europe's debt crisis and sour U.S. data added to fears that major economies were close to recession.
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The euro fell to fresh two-week lows versus the Swiss franc and U.S. dollar in Asia on Monday in the lead-up to an emergency meeting among European leaders worried that the debt crisis was spreading to Italy, the region's third largest economy.
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Gold edged up on Thursday to near its strongest level in three weeks with the euro under pressure from concerns over Europe's sovereign debt problems.
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The euro fell on Wednesday, pressured by selling by hedge funds and stop-loss offers as worries over Greece's finances cast a pall over the single currency, bringing it closer to testing crucial support levels on charts.
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