World stock markets mostly slid on Friday , bank share goes down after Moody’s downgraded some of the biggest banks including HSBC.The health of 15 of the world’s biggest financial institutions has been called into serious question after Moody’s downgraded their credit ratings, citing risk exposure and the euro zone crisis.
Some of the biggest names in banking — including Goldman Sachs, Bar clays, Citigroup and Deutscheb Bank saw their ratings slashed on Thursday after the close of US markets, spelling increased investor scrutiny and potentially higher borrowing costs for lenders.
Europe’s main stock markets were lower approaching the half-way point after losses for equity indices in Asia and on Wall Street overnight in the wake of weak manufacturing data from China and Europe.
The US Federal Reserve’s light-touch stimulus on Wednesday also weighed on share prices with concerns it would not be enough to boost the economy.
Spanish and Italian bonds came under renewed pressure. Debt crisis had pushed business confidence in Germany, Europe’s biggest economy.