Global Markets Drop on Fears of European Recession

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Global stock markets fell Monday as concerns grow that the European debt crisis may lead to recession.

A recession there could hurt the economy around the world, including an already weak U.S. economy.

More evidence of that came in Friday's unemployment report, which showed that job growth remains very weak.

"Employers are still cautious to actually make those hires and bring people on board and invest in their companies," Joanie Ruge, an employment analyst with Randstad Holding US, said.

Some analysts believe the United States may be heading for another recession. International investor George Soros said he believes the eurozone only has three months left to try to save the euro.

He said that the European Union itself may not survive the crisis.

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