World stocks hit by credit fears

Shares in Asian exporters have been hit by the weaker US currency

European stocks were lower in afternoon trade, after Asian shares had seen more dramatic falls, as ongoing credit fears harmed firms reliant on exports.
France's Cac index slipped 0.2% while Germany's Dax index shed 0.4%.

Tokyo's Nikkei ended 2.48% down at 15,197.09, and the broader Topix slid 2.54% to 1,456.40 - both 15-year lows. Hong Kong's Hang Seng Index fell 4.5%.

Analysts said the trend was in response to Friday's falls in the US, on fears that banks could see further losses.