Global shares hit by euro zone concerns

US stocks fell on resurging concern about Europe as a region of Spain said it would seek the central government's help to repay its debt.

The Dow Jones industrial average was down 120.79 points, or 0.93 percent, at 12,822.57. The Standard & Poor's 500 Index was down 13.85 points, or 1.01 percent, at 1,362.66. The Nasdaq Composite Index was down 40.60 points, or 1.37 percent, at 2,925.30.

European equities extended losses to set fresh session lows after the European Central Bank said it would stop accepting Greek bonds as collateral, further fuelling investor concerns about the euro zone debt crisis.

The FTSEurofirst 300 traded 1.1 percent down at 1,053.01 points, as the euro extended losses versus the dollar.