Global stock markets down on concerns over banks
Stock markets across the globe plunged on Thursday, primarily triggered by a fresh sell-off in banking stocks. Key US indices Dow Jones and S&P 500 fell 1.6% and 1.2% respectively to close at their lowest levels in around two years. The European banking sector dropped by 6.3%, amid uncertainty surrounding non-performing loans, interest rates, and economic turmoil in emerging markets.