The FTSE and the Dax have fallen 1.08% and 1.09%, respectively, and Cac 40 has fallen 1.39% as the markets react to Bank Stress Test results released by the European Banking Authority and more worries of the debt crisis. Gold has hit $1,600 as investors seek stability in the commodity over currencies and equities.
Eyes are now looking to policy makers in the US and Europe for debt deals to be made to boost confidence.
Regards,
Sam