Positive unemployment data helps, but fails to strengthen, markets

European markets opened sharply down on Friday amid fears the debt crisis is worsening. This followed a tumultuous Thursday on both sides of the Atlantic, with the biggest decline on Wall Street since the 2008 financial crisis. The heavy sell-off in the US and Asia came as investors worry about the strength of the US economic recovery. Meanwhile in Europe, there are concerns that debt troubles have spread beyond Greece and Ireland, to Italy and Spain.