By Simon Miller

Markets around the world continued to fall overnight as fears about the eurozone continued.

In the US the S&P 500 closed down 7.69 at 1,330.66 while the Dow Jones Index shut at 12,632.00, a flal of 63.35.

In Asia, the Hang Seng Index closed 3.19% down at 19,259.83, while the Nikkei 250 fell 99.57 to clsoe at 8,801.17.

Markets are reacting to fears that Greece will fail to continue the austerity programme as set out by the troika of the European Union, the European Central Bank and the International Monetary Fund. leading to default adn exit fo the euro.

According to the IMF, global exposure to Greece comes to €422bn (£335.8bn) while the IESEG School of Management estimates that total losses could reach €66.4bn for France and €89.8bn for Germany.

In Europe, trading has slightly calmed but teh FTSE 100 is still trading down 49.34 at 5,388.28, while the EURO STOXX 50 is 5.94 down at 2,172.73. The French CAC 40 is slightly down at 3,037.65, a drop of 1.62 (10.15BST).

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