Dublin’s ISEQ index hit a 14-year low today, as markets around the world tumble on fears over the global financial system.

The ISEQ slumped over 3% to stand at 1,977 at 1pm.

The last time it stood under the 2,000 level was the middle of 1995.

Banking shares all fell sharply lower by between 8% and 15%.

The index recovered this afternoon to close down 15 points at 2,034.