Bank shares lead falls on US and European stock markets
LONDON. September 9. KAZINFORM US and European shares have fallen as concerns continue about the strength of the economy; Kazinform refers to BBC.
Wall Street's Dow Jones index dropped 1.7%, which in turned pulled European shares lower. German shares fell 2.7%, UK shares declined 1.5% and French stocks also dropped.
Bank stocks were the most heavily affected.
Investors shrugged off President Barack Obama's new $450bn (£282bn) jobs plan to boost the world's largest economy.
Concerns also linger over the eurozone debt crisis.
The European Central Bank's chief economist Juergen Stark also resigned.
Reuters reported that it was over disagreements over the central bank's buying the debt of struggling eurozone economies.
Bank losses
The share falls come at the end of another week of volatility in the stock markets, with shares swinging wildly between gains and losses on a daily basis; Kazinform cites BBC.
To learn more go to www.bbc.co.uk