MW: Europe shares extend previous session's sharp drop
By Sarah Turner
LONDON (MarketWatch) -- European shares dropped in early trading on Friday, extending sharp losses from the previous session when investors reacted to news that Dubai World has asked to postpone debt. Banks dropped again, with HSBC Holdings (UK:HSBA 705.83, +0.23, +0.03%) shares down another 3.5%, as investors continued to worry about lenders' exposure to the region. Royal Bank of Scotland (UK:RBS 33.00, 0.00, 0.00%) shares fell 9.1% and Lloyds Banking Group (UK:LLOY 88.83, 0.00, 0.00%) shares fell 7.1%. The FTSE 100 index fell 1.4% to 5,122.28, the German DAX index dropped 1.5% to 5,527.17 and the French CAC-40 index fell 1.6% to 3,621.85.
