European stocks turn negative for the year - Aug. 10, 2007

European stocks turn negative for the year - Aug. 10, 2007: "European stocks see biggest drop in 4 years Banking shares lead declines as credit crisis deepens and causes biggest one-day percentage decline; selloff turns European stocks negative on the year. August 10 2007: 3:01 PM EDT FRANKFURT (Reuters) -- European shares suffered their biggest one-day percentage decline in more than four years Friday, fueled by fears of a liquidity crisis stemming from problems in the U.S. subprime mortgage market. Banking shares were among the worst hit, with Barclays down 6.4 percent, ABN AMRO down 3.5 percent and Societe Generale declining 5 percent. Video More video Subprime loans in the U.S. are proving an Achilles heel for otherwise strong global markets. CNN's Maggie Lake reports. Play video Mining stocks such as Rio Tinto (Charts) and BHP Billiton (Charts) slid more than 6 percent amid falling metal prices as investors feared a possible credit crisis could affect the overall economy, hampering growth."