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Europe Roundup: Shares slump
by hlk Fri 23 Sep 2011, 07:41
LONDON: European stocks slumped yesterday, echoing falls elsewhere, after the US Federal Reserve disappointed investors with its stimulus plans and warned of serious downside risks amid the stubborn eurozone debt crisis.
Sentiment was further damaged by escalating concern over the banking sector in Europe and the US, and the re-emergence of a bitter political row to raise Washington's debt ceiling.
London's FTSE 100 index of leading shares tumbled 3.54 per cent to 5,101.21 points, Frankfurt's DAX 30 recoiled 3.53 per cent to 5,238.49 points and in Paris the CAC 40 shed 4.07 per cent to 2,816.20.
Milan slid 3.01 per cent and Madrid tumbled by 3.64 per cent on persistent concern that Italy and Spain could fall victim to the fast-moving eurozone crisis. - AFP
Sentiment was further damaged by escalating concern over the banking sector in Europe and the US, and the re-emergence of a bitter political row to raise Washington's debt ceiling.
London's FTSE 100 index of leading shares tumbled 3.54 per cent to 5,101.21 points, Frankfurt's DAX 30 recoiled 3.53 per cent to 5,238.49 points and in Paris the CAC 40 shed 4.07 per cent to 2,816.20.
Milan slid 3.01 per cent and Madrid tumbled by 3.64 per cent on persistent concern that Italy and Spain could fall victim to the fast-moving eurozone crisis. - AFP
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