Jitters over health of US banks spark global stock market sell-off

Stock markets have gone into sharp retreat globally, including in the UK, over concerns for the health of US banks in the tougher economy.

Wall Street banking stocks bled $80bn of value on Thursday afternoon after trouble at two Californian banks.

Mark Gibson

Graduates in Northwestern University, Evanston, Illinois 1990. Move to Los Angeles California in 2004. Specialized in Internet journalism.

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