Swiss economy shrinks under euro crisis pressure

(Reuters) - The Swiss economy unexpectedly shrank in the second quarter as the euro zone crisis caught up with a country that had seemed relatively immune to its neighbors' woes, providing further justification for the central bank's cap on the strong franc.

Euro Pares Gain After German Industrial Production

(RTTNews.com) - In the European session on Tuesday, the euro eased against its major counterparts after report showed that Germany's industrial production fell unexpectedly for December.

U.S. Stocks Plunge on Global Economic Fears

The Dow Jones Industrial Average plummeted as low as 300 points this morning as Europe's debt crisis thickens and the U.S. service industries continues its anemic growth. The Standard & Poor's 500 Index has fallen for a third day today, down 2.5 percent. CNN Money emphasizes the economic woes in Europe:

Stocks in Europe were also under pressure. The DAX in Germany fell 1.3% and France's CAC 40 was down 1.3%. Britain's FTSE 100 held modest gains. European markets plunged Monday amid ongoing worries that unresolved debt problems in Greece may be spreading to larger nations such as Italy and Spain.