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| − | Stock markets have declined on fears over the state of the US and European economies.
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| − | In Europe, shares fell after a disappointing Spanish bond sale. German and French shares fell almost 3%.
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| − | The European Central Bank also said it would not roll back emergency measures to tackle the eurozone debt crisis, adding to investor concerns.
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| − | Wall Street fell 1% after the Federal Reserve signalled that it might not provide more stimulus.
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| − | In the UK, the FTSE 100 closed down 2.5%.
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| − | In Europe, the Spanish government had hoped to sell up to 3.5bn euros ($4.6bn; �2.9bn) of medium-term bonds, but it was only able to find buyers for 2.6bn euros.
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| − | It once again raised concerns about high levels of sovereign debt in several eurozone member states.
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| − | Achilleas Georgolopoulos of Lloyds Banking Group said the Spanish bond sale had been "very disappointing".
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| − | Market sentiment was further weakened by a survey showing continuing weakness in the eurozone services sector.
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| − | Continue reading the main story
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| − | �Start Quote
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| − | In Europe the economic data is weak and sovereign concerns are flaring up once more�
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| − | Kathleen Brooks Financial website Forex
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| − | No time for ECB 'exit strategy'
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| − | Eurozone services sector 'weak'
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| − | Irish services employment 'rises'
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| − | Fed stays concerned over growth
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| − | Commodities slump
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| − | The price of oil and other benchmark commodities also dropped.
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| − | Light sweet crude fell 2.4% to $101.46 a barrel, while Brent crude fell by $2.17 to $122.69.
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| − | Gold fell 3.3% - to its lowest level since January - and copper dropped 2.8% - send UK-listed miners lower. BHP Billiton fell 3.4% and Rio Tinto dropped 3.8%.
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| − | Investor confidence was affected overnight by the US central bank, the Fed, which indicated on Tuesday that it was not considering a further round of quantitative easing (QE).
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| − | Under QE, a central bank injects new money into the financial system to help boost bank lending.
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| − | Some at the Federal Reserve "perceived a non-negligible risk that improvements in employment could diminish as the year progressed", said the minutes of the March meeting.
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| − | Continue reading the main story
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| − | Brent Crude Oil Futures $/barrel
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| − | Last Updated at 04 Apr 2012, 20:00 GMT *Chart shows local time Brent Crude Oil Future intraday chart
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| − | price change %
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| − | 122.59 -
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| − | -2.33
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| − | -1.87
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| − | Meanwhile, ECB president Mario Draghi warned that the eurozone's economic outlook "remains subject to downside risks".
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| − | He made the comments after the ECB kept eurozone interest rates on hold at 1% for the fifth month in succession.
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