European stock markets have plunged three to five per cent amid rising concern about the eurozone economy and tension between North and South Korea.
In Frankfurt, leading shares showed a fall of more than 3.0 per cent, in Paris more than 4.0 per cent, and in Milan and Madrid more than 5.0 per cent. In Austria, the main stocks index was down 4.6 per cent.
In Oslo, leading stocks were down by 4.45 per cent, in Finland by 3.30 per cent, in Sweden 2.62 per cent and in Copenhagen leading shares showed a fall of 1.76 per cent.
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European stock markets had begun the day on a weak note in response partly to the rescue at the weekend of a provincial Spanish savings bank, CajaSur, by the central bank, adding to concerns about a high public deficit in Spain.
At trading house ODL in London, analyst Owen Ireland commented earlier: "The bloodbath continues on equity markets as a heightened sense of concern creeps back in to traders' minds."
He said: "Whilst the previous falls could have been interpreted by some as buying opportunities, there now appears to be deeper-rooted misgivings about the health of the global economy."
