Asian stocks open sharply lower on new eurozone fears

Asian stock markets opened sharply lower on Thursday after Italy's record-high cost of borrowing renewed fears over the eurozone crisis.

Japan's Nikkei index fell 2.3%, Australia's ASX was down 2.8% while South Korea's Kospi opened 2.6% lower.

The falls in Asian markets follow losses in US markets.

The cost of borrowing on Italian government bonds jumped to 7% on Wednesday, a level considered unsustainable by economists.

SEE BBC NEWS: http://www.bbc.co.uk/news/business-15669197