Bank Worries Roil Across Europe
The British and European banking sectors came under more pressure on Sept. 17 when shares in beleaguered mortgage lender Northern Rock (NRK.L) plunged a further 35%, after falling more than 31% on Sept. 14. Long lines of customers were seen over the weekend withdrawing an estimated $3.5 billion to $4 billion in deposits from the bank, fearing it might go bankrupt. The panic spooked the market and led analysts to wonder whether other lenders will face similar problems.
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