European shares fall

Global stocks dropped on Thursday after a number of Federal Reserve officials warned the US economy would falter without further stimulus measures, driving investors out of risky assets, including gold and silver, and into the safety of cash, which boosted the dollar.

European shares fell, pushing the Stoxx 600 down 1%. Technology, oil and gas and banks were among the biggest sector losers, with German semiconductor maker Infineon down 1.5%, Deutsche Bank off 1.4%, while in London, oil producer BP lost 4.0%.

Asian stocks also fell overnight, with Japan’s Nikkei down 1.1% and theShanghai Composite down 1.7%. US futures were also pointing to a modest drop at the open between 0.1-0.6%, following on from Wednesday’s steep declines.