Stocks fell sharply Thursday in Europe and Asia, a day after a withering sell-off on Wall Street sent U.S. stocks to their lowest close since 2003.

MOSCOW (Reuters) - Russia has rejected U.S. proposals on a missile defense system that Washington plans to deploy in Europe, Itar-Tass news agency quoted an unidentified Kremlin source as saying Wednesday.

A message of survival from historic Europe to the United States as Americans vote.

Asian stock markets ended a mixed week with a mixed performance Friday, as investors digested the implications of the latest interest rate cuts in Europe and South Korea.

German Chancellor Merkel's coalition is divided over measures to boost investment in specific sectors of Europe's biggest economy as it grapples with slowing growth and the specter of recession, a report said Sunday.

Global stocks fell sharply despite earlier gains on Wall Street, with some down more than 9 percent. Europe's major exchanges opened with declines of around 5 percent.

Japan and South Korea led Asian stock markets in steep declines. As the Asian markets closed, Europe's major exchanges opened with declines of around 5 percent.

Stocks fell sharply in Europe and Asia, and the euro and British pound fell to their lowest points against the dollar in years. Oil prices dropped below $70 a barrel.

The top American military officer traveled Monday to the only country in Europe ever bombed by NATO to seek increased cooperation between the armed forces of the United States and Serbia and a lessening of tensions over an independent Kosovo.

Governments across Europe began announcing bailout plans Monday after an extraordinary meeting of euro zone leaders in Paris over the weekend. Britain was the first to green-light a plan worth 37 billion pounds.