This article is from the source 'bbc' and was first published or seen on . It will not be checked again for changes.

You can find the current article at its original source at http://news.bbc.co.uk/go/rss/-/1/hi/business/8666545.stm

The article has changed 14 times. There is an RSS feed of changes available.

Version 8 Version 9
Global shares fall on Greece debt Global shares fall on Greece debt
(11 minutes later)
Global stock markets have fallen sharply, amid investor fears that Greece's debt crisis could halt the global economic recovery.Global stock markets have fallen sharply, amid investor fears that Greece's debt crisis could halt the global economic recovery.
In the US, the Dow Jones index fell 0.7% in early trading, while France's Cac 40 was down 5%, the UK's FTSE 100 shed 3% and Germany's Dax lost 3.3%. In the US, the Dow Jones index fell 0.7%, while France's Cac 40 closed down 4.6%, the UK's FTSE 100 shed 2.6% and Germany's Dax lost 3.3%.
Japan's Nikkei index shed 3.1%, having fallen by 4.1% in morning trading.Japan's Nikkei index shed 3.1%, having fallen by 4.1% in morning trading.
It comes a day after heavy falls on US markets, where the Dow Jones slumped 9%, before rallying. Sterling also fell sharply against the dollar and the euro as results poured in from the UK general election.
The pound also fell sharply against the dollar and the euro as results poured in from the UK general election.
The pound fell more than 3 cents, or 2.1%, against the dollar, to $1.4633.The pound fell more than 3 cents, or 2.1%, against the dollar, to $1.4633.
Against the euro, it fell by 2.6 cents, or 2.2%, to 1.1478 euros.Against the euro, it fell by 2.6 cents, or 2.2%, to 1.1478 euros.
With the majority of results counted, projections showed that no party was on course for an overall majority. The UK election resulted in a hung parliament, which raised concerns among investors that a weak government might not be able to implement policies quickly to reduce the UK's high budget deficit.
This raised concerns among investors that a weak government might not be able to implement policies quickly to reduce the UK's high budget deficit. However, sterling later bounced back against both the dollar and the euro as talks were due to begin between leaders in an attempt to form a government.
Contagion fearContagion fear
The continued global turmoil on the stock markets comes a day after Greek MPs approved drastic spending cuts in exchange for an international financial rescue plan, amid violent protests in Athens.The continued global turmoil on the stock markets comes a day after Greek MPs approved drastic spending cuts in exchange for an international financial rescue plan, amid violent protests in Athens.
European leaders meet in Brussels later to finalise details of a 110bn-euro ($139bn; £86bn) loan package to Greece, while the G7 finance ministers are also due to discuss the Greek debt crisis and its implications for the global economy. European leaders are meeting in Brussels to finalise details of a 110bn-euro ($139bn; £86bn) loan package to Greece, while the G7 finance ministers have also discussed the Greek debt crisis and its implications for the global economy.
Investors fear the Greek debt problem could spread to other European countries Masatoshi SatoMizuho Investors Securities Check latest market data Robert Peston blog: Greek fluInvestors fear the Greek debt problem could spread to other European countries Masatoshi SatoMizuho Investors Securities Check latest market data Robert Peston blog: Greek flu
"The reason for today's fall is what everybody knows - Greece," said Hideaki Higashi at SMBC Friend Securities."The reason for today's fall is what everybody knows - Greece," said Hideaki Higashi at SMBC Friend Securities.
"The market is factoring in the possibility that this Greek problem will spread to Spain and Portugal.""The market is factoring in the possibility that this Greek problem will spread to Spain and Portugal."
Both Spain and Portugal also have high budget deficits and were downgraded by Standard & Poor's credit rating agency last week. There are fears they could be engulfed by the Greek debt crisis.Both Spain and Portugal also have high budget deficits and were downgraded by Standard & Poor's credit rating agency last week. There are fears they could be engulfed by the Greek debt crisis.
Cash injectionCash injection
Among the stock markets in Asia, South Korea's Kospi dropped by 2.2%, while China's Shanghai index fell 1.9%. Shares in Hong Kong, Taiwan and Singapore also fell.Among the stock markets in Asia, South Korea's Kospi dropped by 2.2%, while China's Shanghai index fell 1.9%. Shares in Hong Kong, Taiwan and Singapore also fell.
Japan's Prime Minister Yukio Hatoyama said he was "very concerned" by the losses.Japan's Prime Minister Yukio Hatoyama said he was "very concerned" by the losses.
The country's central bank said it would inject more than $20bn (£13bn) in short-term loans to commercial banks to boost liquidity.The country's central bank said it would inject more than $20bn (£13bn) in short-term loans to commercial banks to boost liquidity.
"The Bank of Japan aims to increase a sense of security in the markets by providing ample funds," said Bank of Japan official Yuichi Adachi."The Bank of Japan aims to increase a sense of security in the markets by providing ample funds," said Bank of Japan official Yuichi Adachi.
The BBC's Roland Buerk in Tokyo says the crisis in Europe hurts Japan because its economy has relied on exports for growth.The BBC's Roland Buerk in Tokyo says the crisis in Europe hurts Japan because its economy has relied on exports for growth.
And as investors flee the euro for currencies perceived to be safer, such as the yen, Japan's currency strengthens, making the products of its companies more expensive abroad, our correspondent adds.And as investors flee the euro for currencies perceived to be safer, such as the yen, Japan's currency strengthens, making the products of its companies more expensive abroad, our correspondent adds.
In New York, the Dow Jones share index plummeted 9% at one point before bouncing back to end Thursday down 3.2%.In New York, the Dow Jones share index plummeted 9% at one point before bouncing back to end Thursday down 3.2%.
The BBC's Caroline Hepker in New York says there are rumours that the drop may have been caused by an erroneous "fat finger" trade at a Wall Street bank.The BBC's Caroline Hepker in New York says there are rumours that the drop may have been caused by an erroneous "fat finger" trade at a Wall Street bank.
The New York Stock Exchange said it had found no error, but the Securities and Exchange Commission and Procter & Gamble, which saw its shares hit, are reviewing the matter.The New York Stock Exchange said it had found no error, but the Securities and Exchange Commission and Procter & Gamble, which saw its shares hit, are reviewing the matter.