European stocks fell sharply Friday amid uncertainty over the US government's $700bn (â¬479bn) rescue plan for the financial sector.
"Fears that the troubled assets recovery plan might be delayed or watered down in a way that makes it less effective have exacerbated money-market tensions even beyond the extreme levels touched a week ago, when the mood in financial markets was apocalyptical," said Marco Annunziata, global chief economist at UniCredit in London.
