The UK's stock market has fallen sharply after a warning from two US banks sparked a widespread sell-off in global shares.
Two US regional lenders, Western Alliance Bank and Zions Bank, said on Thursday that they had been hit by either bad or fraudulent loans, sparking fears that other banks may be exposed.
Some of the UK's biggest banks, including Barclays and Standard Chartered saw their share prices fall more than 5%, taking the FTSE 100 index of leading shares down about 1.5% at one point.
Stock market indexes around the world, including Germany's Dax and the Cac 40 in France, also fell.
On Thursday, Zions Bank said it would write off a $50m loss on two loans, while Western Alliance disclosed it had started a lawsuit alleging fraud.
