U.S. stocks plunged Friday, threatening to erase the week's gains, as rising fears about fallout from Europe's debt crisis overshadowed President Barack Obama's plan to revive the U.S. job market.
Shortly after markets opened, the European Central Bank said that be a key official had resigned for personal reasons. Juergen Stark, the bank's top economist, is seen as an advocate of higher interest rates. Published reports said he opposed the bank's extensive purchases of debt issued by heavily-indebted member nations.
Stark's resignation might be a sign of deepening disagreement over how to solve Europe' economic problems.
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