fears

Asian stock markets were mostly lower Thursday, amid inflation data in China that failed to meet expectations and fears of a possible recession in Europe.

Stock indexes gave back some of their gains and the euro turned lower against the dollar following a report that Germany and five other major European nations could risk having their credit ratings downgraded.

Stocks tumbled after the U.S. government lowered its estimate of economic growth in the third quarter. Higher borrowing costs for Spain also renewed worries about Europe's debt crisis.

Wall Street was wavering Tuesday, after four days of losses, as persistent concerns over Europe keep investors on edge.

Stocks plummeted at the opening bell on Wall Street Wednesday amid fears that Italy's soaring borrowing costs would push Europe's third-largest economy to the brink.

The stock market mostly recovered from investors’ fears about Europe’s debt crisis Monday. After trading lower for most of the day, the major indexes ended slightly higher.

U.S.

The deficit-plagued Postal Service has warned 3,700 communities, most rural, that it may shutter the post offices that many residents rely on to pick up their mail and keep up with area news.

Stocks in Europe recouped some recent losses on Wednesday on hopes that European policymakers were thrashing out a plan to shore up the banking sector, which has been damaged by fears of a Greek debt default.

Wall Street was wavering Monday after Greece admitted that it will miss its deficit targets this year and next, despite its recent austerity measures.