European shares dropped sharply on Friday

Source: Marketwatch
European equities plunged on Friday reflecting composite negative effect from weaker Eurozone and China manufacturing data. Disappointing US payrolls also contributed to the drop. Stoxx Europe 600 declined 1.9%, Spanish IBEX 35 gave up 0.4% and posted a 7% fall for the week. British FTSE 100 lost 1.1% and German DAX closed 3.4% down. French CAC 40 slipped 2.2%. 
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Mon, 04 Jun 2012 10:01:18 GMT

Banks reduced cross border lending in fourth quarter

International banks cut their cross border lending to each other, governments and companies at the fastest pace since the crash of Lehman in 2008. The cross border assets contracted by 2.5% or USD 799 billion in the last three months of 2011, record-keeper said on Monday. The fall in lending was most widespread across Eurozone banks.

Mon, 04 Jun 2012 09:39:17 GMT

US stock indices plunged more than 2% on Friday

US stock indices tumbled on Friday as disappointing macroeconomic data both from Europe and China boosted anxiety the global economy is worsening and sent US shares lower. S&P 500 index fell 2.46% or 32.29 points and finished at 1,278.04 experiencing a worst trading day in six months. Dow Jones Industrial Average index lost 2.22% or 274.88 points and closed at 12,118.57, 2.7% down for

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