No let up for world stocks as banking worries persist

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As Reuters Reports: Global stocks were pressured on Friday and safe-haven buying supported government bonds as concerns about the stability of the banking system lingered.

Global stocks were pressured on Friday and safe-haven buying supported government bonds as concerns about the stability of the banking system lingered.

The STOXX sub-index of bank shares, which had rebounded from earlier falls this week following a forced weekend tie-up between Credit Suisse and UBS bought some stability, fell almost 3% in early trade.

Shares in Deutsche Bank tumbled after a sharp jump in its credit default swaps, which reflect the cost of insuring debt against the risk of default, the day before.

The moves highlight just how frail sentiment remains after turmoil in the U.S. and European banking sectors in the past two weeks have revived memories of the 2008 global financial crisis.

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