European stock markets closed sharply lower today, shedding over 5% as equities succumbed to a deluge of bad economic data pointing to a severe global slowdown.
In London, the FTSE 100 fell 5.2% to 4,065 points, in Paris the CAC 40 lost 5.60% to 3,080, while in Frankfurt the DAX shed 5.9% to 4,395.
A new set of grim figures pointed to a deepening recession in Europe on Monday, officials painted a sombre picture for Japan and a top auto chief warned of 'massive' job losses in the vehicle industry.
US stocks fell deep in the red Monday as traders locked in gains from a stunning series of rallies in the past week and fresh recession jitters emerged. The Dow Jones slid 4.2% to 8,454 at 5pm. The Nasdaq shed 5.4% to 1,452.
Reinforcing the grim mood was a report on manufacturing from the Institute of Supply Management showing a weaker-than-expected reading. The ISM factory index fell 2.7 points to 36.2, the weakest since May 1982.
Dublin's ISEQ index had slipped 1.25% to stand at 2,507 at 5pm. Shares in Aer Lingus soared 14% to €1.28 after the news that Ryanair had launched a second merger attempt for the former national carrier, which values it at €748m. Ryanair shares were down 2.8% to €2.85.
Ahead of its annual results on Wednesday, shares in Anglo Irish Bank fell 2.8% to stand at 83 cent, while AIB shed 4.8% to €2.57. Irish Life and Permanent was higher, however, adding 3.3% to €1.73.
Earlier this morning, Tokyo's Nikkei 225 index closed over 1% lower at 8,397, hit by a stronger yen and profit-taking.
