AlQa'dah 6, 1436, Aug 21, 2015, SPA -- European shares are seeing their biggest weekly fall of the year as a sell-off of stocks gained ground Friday amid renewed tensions about Greece and deepening concerns about the global economic fallout from a slowdown in Chinese growth. According to dpa, the blue-chip eurozone Euro Stoxx 50 index slumped 1.5 per cent to 3,303 points in trading on Friday, with bourses across Europe chalking up similar falls after Shanghai's benchmark composite index closed down 4.27 per cent. The news that Greek Prime Minister Alexis Tsipras had stepped down the night before and announced new elections also weighed. After surging during the first few months of the year following the European Central Bank's launch of a 1.1-trillion-euro stimulus plan, European stocks have been edging lower against the backdrop of a steady flow of bleak economic news out of China. "The Chinese stock market has entered a turbulent period," Huang Weiping, economics professor at Beijing's People's University in Beijing, told dpa.
