Global investors have given the $1.5 trillion (£1.02 trillion) US bank bail-out plan a muted response, following sharp falls overnight on Wall Street.
Analysts says there is scepticism over whether the proposal will work, and worries over both a perceived lack of detail and the sums of money involved.
At the core of the plan is a new $500bn fund to absorb toxic bank assets.
The UK's FTSE 100 was down 0.4% in early trading. America's main Dow Jones slumped 4.6% on Tuesday.
"This is not a clear-cut plan," said analyst Bucky Hellwig.
Mr Hellwig, who works for Morgan Asset Management, added that it wasn't "what investors are looking for", and that the package was "convoluted".
Dow slump
In early Wednesday trading in London, the FTSE 100 was 0.4%, or 18 points, lower at 4,195, while France's Cac had lost 1%.
Hong Kong's Hang Seng index was down 431 points, or 3.1%, in afternoon trading at 13,450.
Meanwhile, the top index of Australian shares closed down 10.3 points, or 0.3%, at 3,418. The Japanese stock market was closed for a public holiday.
The falls came after the US Dow Jones index slumped 382 points, or 4.6%, to 7,889 on Tuesday.
Mr Geithner said the new bank bail-out package was vital as "critical parts of our financial system are damaged".
"Instead of catalyzing recovery, the financial system is working against recovery, and that's the dangerous dynamic we need to change," he added.
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