World share markets are ending another turbulent trading week with stocks in Europe clawing back some of the steep losses run up in action earlier during Friday's trading session. Taking the lead from a marginally more assured Wall Street, Europe's benchmark Eurostoxx 600 share index closed down 1.41 per cent at 223.51 points after slumping by 2 per cent during the late morning. Having opened off about 1 per cent, New York's Dow Jones Industrial Average had lost 0.3 per cent to trade below 11,000 points as the European trading day came to an end. The faltering performance of world share markets came amid renewed fears about the global growth outlook and the risks to the financial sector caused by the debt crisis gripping parts of the 17-member eurozone. Traders say markets have been driven by a crisis of confidence in policymakers on both sides of the Atlantic in the wake of worries whether they will be able to address the growth and debt problems facing the world economy. Analysts are warning that investors could face more turmoil in the weeks ahead. "Signs that European policymakers remain unwilling to take major steps towards fiscal union, coupled with very weak economic data and a renewed slump in equity prices, did nothing to alter our view that the debt crisis is set to intensify," wrote the research group Capital Economics in a note to clients. Already the result has been to trigger a round of share market volatility not seen since the 2008 economic crisis and a flight to safe-haven investments such as gold, which has been hitting a record high almost daily.
