European markets have fallen sharply as investors look to offload riskier assets amid fears that the eurozone debt crisis is spreading. Britain's FTSE-100 dropped 1.5 per cent while Germany's DAX-30 and Paris CAC-40 were both down more than two percent in mid-session trading on Tuesday. The euro also fell to a four-month low against the US dollar. Asian stocks also tumbled on Tuesday, with the Nikkei closing 1.43 per cent lower in Tokyo, Sydney losing 1.90 per cent, Hong Kong 2.19 per cent and Shanghai 1.48 per cent at the close of the day's trading. The losses come off the back of a steep sell-off on Monday. ’Things in Europe just seem to be going from bad to worse; you get the feeling that authorities are merely trying to plug the holes in a sinking ship. At the end of the day, they're just delaying the inevitable’, said Ben Potter, strategist at IG Markets.

Pray: for the financial situation within the eurozone that a solution will be found to halt the slide into further recession. (Pr.22:2-4)

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