Fears that the central banks of Europe and the U.S. may soon end efforts to support financial markets as well as fresh concerns about the health of Europe's weakest countries drove down stock markets around the world Wednesday, the Wall St Journal reports..
European Central Bank President Mario Draghi indicated he would be hesitant to undertake more monetary easing, citing concerns about inflation. That surprised investors who had been relying on the ECB to help support the region's economy and financial markets.
Adding to concerns, an auction Wednesday of Spanish government bonds was met with surprisingly lackluster demand. The disappointing sale was a reminder to investors that Europe's problems are far from over, and prices of European sovereign bonds fell, sending yields higher. The euro also dropped against the dollar….
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