World stocks hit fresh 11-month low; down 20 pct since May

Tue Aug 9, 2011

LONDON (Reuters) - World stocks hit a 11-month low on Tuesday, entering bear market territory as it fell more than 20 percent since hitting a three-year high in May.

Investors grew concerned about the health of the U.S. economy, the euro zone debt crisis and higher inflation in China.

The MSCI all-country equity index fell nearly 2 percent on the day to its lowest since September 2010. The index has fallen for 10 consecutive days.

The MSCI emerging equity index fell 3.4 percent towards July 2010 lows hit in Asian trade.

(sourced Reuters)