Stocks sink as Europe nears 'tipping point'

A sell-off in U.S. stocks accelerated Friday afternoon, as fresh worries about Europe surfaced.

Just before the opening bell, the European Central Bank announced that executive board member Juergen Stark was stepping down. Analysts say Stark is leaving amid disagreements over the ECB's bond buying program.

"Stark has been a fairly vocal critic over the ECB's bond purchasing program," said Michael Hewson, analyst at CMC Markets in London. "His resignation highlights the political paralysis at the heart of Europe, and the debt crisis is approaching a tipping point."

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- Posted: 2011-09-09 11:39:06

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