LONDON (AP) — European and Asian stock markets mostly fell back today after a two-day rally amid profit-taking and concerns that the global efforts to restore confidence in the battered financial system will not be enough to stave off a deep recession.

The FTSE 100 index of leading British shares was down 130.91 points, or 3.0 percent, at 4,263.30. Germany’s DAX was 127.03 points, or 2.4 percent, lower at 5,072.16, while France’s CAC-40 was 85.29 points, or 2.4 percent, down at 3,543.23.

The losses in Europe’s follow similar declines in the U.S. and most Asian markets, except Japan.