European stock markets fell at the start of trading on Friday -- the end of a turbulent week for equities owing to the Cyprus bailout and banking crisis.
Italian lawmakers were set to give the nod Saturday to a reform package aimed at staving off bankruptcy, as Greece got to work on its own economic makeover after a week of eurozone debt trauma.
Global stocks rallied for a second day with a strong advance in Europe and Asia on Tuesday on signs that EU and world leaders are preparing a blockbuster response to the eurozone debt crisis.
German Chancellor Angela Merkel tried on Tuesday to reassure volatile markets that the eurozone will stay intact after US President Barack Obama urged greater efforts to solve the EU debt crisis.
Efforts by US President Barack Obama and other global leaders to restore confidence failed to do the trick Tuesday as markets hit new lows in a massive sell-off driven by fears of a new recession.
Global stocks plunged on Friday on the increasing prospect of a sharp economic downturn, with attention focused on US jobs data, widely expected to deepen the gloom of flagging growth and eurozone debt.
