It has been another bleak day in European trading as markets across the continent reported significant falls. It follows on from anxiety over losses in US mortgage lending markets that have fuelled fears of an impact on global growth. It is the sixth time in seven sessions that European stocks have tumbled. Market analyst Peter Helmer described events as a “technical reaction.” He said: “The cause is without doubt the US property crisis but he added the wasn’t the complete picture. It’s just one piece of the puzzle.” The Eurostoxx index finished down 1.48 percent, the FTSE was down 1.72, Frankfurt was 1.45 percent the red and Paris was down 1.68 percent. “I think the risks for the larger banks is limited,” said Peter Helmer. “The mortgage banks so far are affected are the smaller ones.” But there is litte sign of world markets seeing beyond the the current volatility in US lending.
Markets down again over US property fears