The European single currency nosedived to an 18-month low today and equities slumped as markets were hit by fresh euro zone crisis concerns that also sent gold soaring to new record peaks. The euro tumbled to $1.2433 earlier this morning, striking a level which was last seen on November 21, 2008. It later recovered a little to stand at $1.2482 by lunchtime, while it was also worth 85.6 pence sterling. Gold prices hit a record peak near $1,250 an ounce, as investors sought a safe-haven in the precious metal amid mounting concerns over the eurozone situation. Gold jumped as high as $1,249.40 an ounce this morning on the London Bullion Market. Oil futures plunged by about $2 a barrel as traders reacted to euro zone economic concerns and the strong US currency, which makes dollar-priced crude more expensive for foreign buyers.