“The euro area finance ministers meeting has come and gone, and despite the indication of willingness by the ECB to buy bonds, we are still no closer to what many in the market consider the ultimate endgame”, said Mr. Brian Barry, an analyst at Investec Bank Plc in London.

The above statements were released by the expert over the recent drop that has been cited in the market.

The meeting of the European Union’s policy makers to ease the ongoing debt problems has eased up the European and Asian stocks.

MSCI Asia Pacific Index was also up by 2.1%, though Standard & Poor’s 500 Index dropped by 0.5%. The European stocks have been facing an increase from four consecutive days however, the U. S. index futures dropped.

While Spain is grappling to consolidate its position in the international market, here comes another bouncer as the cash crunched Banco Cam is struggling to catch hold of its rising debt.

While foreign banks and other private equity players have already refused to get into the already embattled Spanish market, the central bank had no option to left but to be the savior as was done in the case of Caja Castilla La Mancha (CCM) and CajaSur.

On Monday, the European stocks were seen doing a great job as the market shoot up at the level of 227.08. It is believed that the surge in the European market resulted from the speech delivered by the Federal Reserve Chairman, Ben Bernanke. Among the European market, Frankfurt's DAX and Paris's CAC-40 jumped 1.4% and 1.5%.

After long time, in the beginning of this week, global stock markets were found to be at a bit higher position but by Thursday, once again, the situation became weak. This push up was due to some expectations made for a few messages from the Chairman of the Federal Reserve, Ben S. Bernanke, about more data on the U. S. Economy. However, a speech from Bernanke has been scheduled for 10 a. m. in New York and 5 p. m. in London.

On Monday, Spanish and Italian shares have raised despite of the losses across the world, as the European Central Bank has purchased the government bonds of both the countries.

Traders have reported that the main reason for the equity bounce was the ECB's sovereign bond purchase, which pushed the bond yields. At 0850 GMT, the Spain's blue-chip index was increased by 2.3% whereas Milan's FTSE Mid was raised by 1.9%.

Asian and European market slumped down due to fear of US debt crisis. Though President Barack Obama has signed a deal to raise the US debt ceiling and avoid a devastating default, equities suffered a heavy sell- off and investors found gold to be safest option to invest their cash in. Due to this reason gold has reached to its height of $1,671 per ounce.

Tokyo market dropped by 2.11%, amounting to 207.45 points, to 9,637.14 and Sydney tumbled by 2.27%, amounting to 100.8 points, to 4,332.8, while Seoul dived 2.59% or 55.01 points, to 2,066.26.