Bank Worries Roil Across Europe

The rescue of British lender Northern Rock sparks concerns about the broader economy, causing banking shares to fall in Britain, Spain, Germany, and France

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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