TOKYO, Asian share markets and the euro retreated on Tuesday as talks between Greece and euro zone finance ministers broke down after Athens rejected a proposal to request a six-month extension of its international bailout programme.
U.S. stock futures fell 0.5 percent in Asian trade while Japan's Nikkei share average shed 0.3 percent. MSCI's broadest index of Asia-Pacific shares outside Japan dipped 0.2 percent.
The euro slipped to $1.1332, about a full cent below Monday's high of $1.14295, though it kept some distance from last week's low of $1.1270 and its 11-year trough of $1.1098 hit on Jan. 26.
Dutch Finance Minister Jeroen Dijsselbloem, who chaired the euro zone's finance minister meeting, effectively gave Athens an ultimatum, telling Greece it had until Friday to request an extension or the bailout would expire at the end of the month.
Without support from creditors, the Greek government and banks would face a looming euro cash crunch, possibly opening the way for Greece to become the first country to ditch the common currency altogether and re-introduce its own currency.
"All up, still no deal. And something of a disappointment after what seemed to be the makings of a spirit of compromise last week," said David de Garis, senior economist at National Australia Bank in Sydney.
Gold extended gains into a fourth day as concerns on Greece supported demand for safe-haven assets. Gold rose to $1,233.60 per ounce, rising further from a one-month low of $1,2118 hit on Wednesday.
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