Thailand's PM declares state of emergency

Thailand's prime minister declared a state of emergency in the country's capital Bangkok on Tuesday and gave the army control of public order after a man died in overnight clashes between pro- and anti-government protesters. The baht fell in reaction to the news and stocks dropped 2 percent.

The prime minister, who has refused to quit or dissolve parliament in the face of more than 100 days of street protests by an anti-government group, said the security action would be restrained and not last more than a few days. Thailand's army chief said soldiers would not use force to evict protesters who have occupied the prime minister's office.