Markets tumble as nations told to prepare for Greek exit

Markets across Europe set new lows for 2012 yesterday after countries were told by Brussels to prepare contingency plans for a Greek exit.

The message from EU officials battered shares across Europe, with the major markets all diving. The FTSE 100 closed down 2.5% down at 5,266 points, its lowest finish so far in 2012, while the German Dax lost 2.3%, to finish at 6,285, and the French Cac 40 closed 2.62% down at 3,003. Stocks sold off heavily after officials demanded all eurozone countries prepare for Greece to exit the single currency. The US provided a little stability for investors, with the S&P 500 closing up 0.17% at 1,318, while the Dow Jones edged down slightly by 0.05% to 12,496. The Nasdaq rose 0.39% to 2,850...