European markets are diving into the red on Wednesday morning as a cocktail of a renewed oil price slide, and a market bloodbath in Asia combine to scare investors into flight.

At the open across the continent, all major stock indexes were lower, with the FTSE MIB in Italy, and the DAX in Germany leading the losses. Five minutes after the open at 8:00 a.m. GMT (3:00 a.m. ET), Italy’s benchmark was trading down by around 2.4% to 18,400 points, while the DAX dropped 2.6%, or roughy 255 points. Here’s how the Dax looks:

It’s no better on the other major indexes either. Here’s the league table right now:

  • Britain’s FTSE100 — down 1.9%
  • France’s CAC40 — down 2.25%
  • Spain’s IBEX35 — down 2.07%
  • Euro Stoxx 50 — down 2.21%

And just when we thought the markets might be calming down a little.

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