Zut Alors! Euro Markets Follow The Asian Tumble

AP: European stock markets were sharply lower Wednesday following losses in Asia and an expected retreat on Wall Street amid spreading pessimism over corporate earnings around the world.

Britain’s FTSE 100 index of leading shares was down 177.13 points, or 4.2 per cent, at 4,052.60, while Germany’s DAX was down 189.29 points, or 4.0 per cent, at 4,595.12. The CAC-40 in France, Europe’s best-performing index on Tuesday, was 146.45 points, or 4.2 per cent, lower at 3,328.95.

Europe’s losses echoed those in Asia. Japan’s Nikkei 225 stock average fell for the first time in three days, dropping 631.56 points, or 6.79 per cent, to 8,674.69, while Hong Kong’s Hang Seng sank 5.2 per cent and South Korea’s main index shed 5.1 per cent.

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