A look at economic developments and activity in major stock markets around the world Friday:
___
MADRID — Spain's brutal unemployment rate soared to nearly 23 percent and closed in on 50 percent for those under age 25, leaving more than five million people — or almost one of every four — out of work as the country slides toward recession.
___
FRANKFURT, Germany — U.S. ratings agency Fitch says it is downgrading the credit ratings of five countries that use the euro, including economic heavyweights Italy and Spain.
___
LONDON — World stocks turned lower after official data showed the U.S. economic recovery was not as fast as many had hoped.
Britain's FTSE 100 was down 1 percent while Germany's DAX fell 0.5 percent and France's CAC-40 lost 1.2 percent.
___
TOKYO — In Asia, Japan's Nikkei 225 index fell 0.1 percent while South Korea's Kospi rose 0.4 percent. Hong Kong's Hang Seng rose 0.3 percent and Australia's S&P/ASX 200 gained 0.4 percent.
___
ATHENS, Greece — Greece was locked in a twin effort to placate its creditors, seeking to secure a crucial debt relief deal with private investors while tackling pressing demands from its European partners and the IMF for deeper reforms.
___
ROME — Italy easily raised $14.46 billion in a pair of bond auctions, as its borrowing rates fell for the second day in a row.
___
BERLIN —Nearly three-quarters of Germans oppose putting more money into the eurozone's rescue fund, according to a new poll.
___
WARSAW, Poland — Despite the European debt crisis, Poland's economy grew at a brisk 4.3 percent rate last year, topping its strong 3.9 percent growth in 2010.
Shares