Stocks tumbled Monday in Europe and Asia, and oil fell below $90 for the first time since February as fears grew that the financial crisis is spreading to the world economy.
European markets slid at the opening, a day after governments were left scrambling to prevent the collapse of two lenders, Hypo Real Estate in Germany, and the Belgian operations of Fortis. The German government also said Sunday that it would guarantee all private bank deposits as it sought to avert the spread of the financial contagion.
