Global shares fall as Spain, Italy worries weigh

Major stock markets fell today as political uncertainty in Spain and Italy revived worries that the steps taken to rein in the euro zone debt crisis could unravel.

The Dow Jones industrial average fell 120.15 points, or 0.86 percent, to 13,889.64. The Standard & Poor's 500 Index dropped 14.60 points, or 0.96 percent, to 1,498.57. The Nasdaq Composite Index slipped 39.81 points, or 1.25 percent, to 3,139.28.

European shares fell steeply as mounting political uncertainty in major euro debtor countries prompted investors to lock in profits on indexes trading close to multi-year highs.

The FTSEurofirst 300 ended down 1.5 percent at 1,150.91 points, its lowest close since Dec. 31, having hit a near two-year peak of 1,178.55 points towards the end of January in a rally that raised it nearly 8 percent above a November trough.