BBC News with Jonathan Izard

An American of Pakistani origin, Faisal Shahzad has been charged with involvement in the failed car bomb attack in Times Square in New York City on Saturday. Mr. Shahzad was charged on five counts, one of which was attempting to explode a weapon of massive destruction. Barbara Plett reports from outside the Manhattan Courthouse.

Court documents said Mr. Shahzad had admitted trying to detonate the car bomb in Times Square. They said he reviewed that the plot began in December last year and that he had recently received bomb-making training in the tribal areas of Pakistan. However the documents did not say who gave him this training. They also made no mention of the Pakistani Taliban which claimed to be behind the aborted attack. Mr. Shahzad apparently left a trail of evidence in what was described as an amateur operation. He was arrested about 48 hours later trying to fly out of New York to Dubai.

Share prices in Europe and the United States have fallen sharply in the face of persistent worries about the Greek economy. The main index in New York fell more than 2%. London and Frankfurt closed down more than 2.5%, and Paris fell more than 3.5%. Here is our business correspondent Nils Blythe.

The 110 billion euro bailout for Greece announced over the weekend hasn’t settled the nerves of European financial markets. The concern is that other countries will also find themselves unable to borrow in the normal way and will then have to look for support from fellow eurozone countries. Portugal and Spain seem to be particularly vulnerable. And the Spanish Prime Minister Rodríguez Zapatero was forced to dismiss rumors that his country’s preparing a request for support. Even the New York share market, which often shrugs off events outside the US, has picked up the growing anxieties in Europe.