With Greece Concerns Mounting, World Markets Struggle

World markets continued to struggle on September 19 with investors becoming increasingly concerned about the debt issue looming over Greece, according to CNN Money.

The news source reports that concerns rose sharply after European leaders pushed back determination on another bailout installment for Greece to October. Marc Chandler, the global leader of currency strategy for Brown Brothers Harriman, told the news source that pushing back the decision date was not exactly putting investors' minds at ease.

"Time is running out," Chandler explained. "The two day meeting between European finance ministers ended without substantial progress on Saturday."

Amid the shaky news coming from Europe, shares of Bank of America dropped 1.5 percent during premarket trading on September 19, while JPMorgan Chase, Citigroup and Goldman Sachs also experienced dips of between 1 to 2 percent, according to CNN Money.

While Greek debt issues continue to impact global financial markets, President Barack Obama recently unveiled a new $3 trillion deficit cutting plan that would raise taxes on wealthy Americans, according to Reuters.

President Obama will now send the recommendations to a "super committee" of Congress members, which is tasked with cutting into the deficit by at least $1.2 trillion by November 23, the publication noted.