Global stocks fall on less hope of Fed help, Spanish auction
Global stocks dropped more than 1 percent on Wednesday a day after US central bank meeting minutes dented hopes for more economic stimulus and as a Spanish debt auction drew weak results.
The Dow Jones industrial average fell 124.80 points, or 0.95 percent, to close at 13,074.75. The Standard & Poor's 500 Index was down 14.42 points, or 1.02 percent, at 1,398.96. The Nasdaq Composite Index was down 45.48 points, or 1.46 percent, at 3,068.09.
It was a second day of losses on the Fed minutes for stocks, with most S&P 500 sectors declining. Energy, financial and technology stocks led the fall.
European shares fell to a two-month low and braced for a bumpy ride after a disappointing auction of Spanish debt reignited fears about the euro zone debt crisis after three months of calm.
The pan-European FTSEurofirst 300 index closed 2 percent lower at 1,050.99, posting its biggest one-day drop in a month.
The Nikkei closed down 230.40 points at 9,819.99, below 10,000 for the first time in three weeks that saw the benchmark hit the highest level since the massive earthquake and tsunami in March last year. The broader Topix fell 1.8 percent to end at 835.36.
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