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5.30pm Markets Update

Turmoil continued on the main European markets today on the deepening crisis in the US credit market.

The Dublin Market closed down nearly 1%, or down 81 points at 8482.

European stocks ended lower after a choppy day of trade as financial stocks led losers on renewed concern about the risky US subprime market.

Around Europe, Britain's FTSE 100 index fell 1.72%, Germany's DAX dropped 1.45% and France's CAC 40 fell 1.68%.

Around half way into the session on Wall Street the Dow Jones was slightly higher and the Nasdaq was down 0.35% as oil prices climbed to a record high of $78.71 a barrel amid supply worries.