Stock markets experience falls around the world

Global stock markets have suffered another day of heavy losses.

In Dublin, the ISEQ index of Irish shares closed the week down 68 points.

The Frankfurt DAX slumped 180 points, while the Paris CAC was down 89 points and London's FTSE dropped 114 points .

It follows news that the ECB's Chief Economist is stepping down, with some reports suggesting Juergen Stark's decision was made because of a conflict over the ECB's controversial bond-buying programme.

Meanwhile, US stocks fell sharply on opening today, with investors questioning whether President Barack Obama can convince Congress to pass his $444bn job-creation plan.