US and EU trading hit by debt worries
Debt worries dominated trading on both sides of the Atlantic today amid fears over America’s failure to set a new ceiling for its borrowings.
US markets were also affected by European debt issues, which knocked the UK’s top four banks despite last week’s European stress tests. Although none of the four UK banks failed the tests, Barclays and Royal Bank of Scotland were the biggest fallers as analysts said the findings were largely irrelevant as they did not take into account the full likelihood of a Greek debt default.
