Soaring oil prices above $60 a barrel shook investor confidence in future economic growth on Monday, battering stocks and supporting bonds despite some positive German business data. The business sentiment data from Ifo steadied the euro but the high oil price hit the yen. The price of crude jumped one percent to a fresh record above $60 a barrel, primarily on signs of continuing robust U.S. demand. U.S. August crude oil futures traded as high as $60.64 a barrel, extending a rally that has added around 12 percent to prices in two weeks and 39 percent since January. London Brent was up 71 cents at $59.07 a barrel, having touched a record $59.21. The high price spilled over into European and Japanese equities, continuing Friday's battering in New York. "Investors are worried that high oil prices may slow the U.S. economy," said Masayoshi Yano, senior manager of investment information at Tokai Tokyo Securities. The FTSEurofirst 300 index was down 0.76 percent and the narrower DJ Euro STOXX 50 was down 0.81 percent. Earlier, Japan's Nikkei fell 122.75 points, more than 1 percent, to 11,414.28. The broader TOPIX index was down 1.02 percent or 12.02 points at 1,161.44. The poor sentiment meant that stock investors shrugged off an expected rise in German business confidence -- the first in five months. Munich-based Ifo said its business clilmate index rose to 93.3 in June from 92.9 in May.