US markets plummet 4% as euro concerns escalate

US markets plummeted almost 4% yesterday as the fallout from the eurozone crisis continued to escalate.

The S&P 500 fell 3.9% to 1071.59 and the Dow Jones IA dived 3.6% to 10068.01. The tech-heavy Nasdaq lost 4.11% of its value, down to 2204.01.

Investors across the Atlantic were also spooked by the latest US unemployment figures, as jobless claims climbed to 471,000 last week, the biggest jump in three months.

It is the problems for the euro which are at the forefront of concerns however, with investors still spooked by German Chancellor Angela Merkel's warning the single currency was "in danger".

In Europe, the FTSE 100 closed yesterday down 1.65% to 5073.13, while Paris' CAC 40 lost 2.25% and the German Dax dived 2.02%.

News is not much better in Asia, with the Nikkei 225 falling under 10000 on Friday, down 2.45% to 9784.54.