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Growth worries push stocks into the red

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Growth worries push stocks into the red

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Worries that US policymakers are not doing enough to prevent the world’s biggest economy from falling into recession pulled down Europe’s stock markets on Friday.

US central bank chairman Ben Bernanke gave no indications of new stimulus measures in a speech and the feeling is President Obama faces an uphill battle to get his package of tax cuts and new spending through Congress.

Analysts said uncertainty about economies on both sides of the Atlantic was keeping investors from buying shares.

Banks are among the biggest losers because of fears of losses from the euro zone debt crisis.

The euro fell to six-month lows against the dollar and the yen as the European Central Bank shifted away from further interest rate rises. Gold and oil price also slipped