European stocks slump, Wall Street slides on poor data
15 Jan 2009 3:45 AM
European stock markets have fallen hard .. shedding more than six per cent in London after fresh losses on Wall Street .. as investors fret over poor US economic data and resurgent credit-crunch woes.
In late afternoon deals .. the British capital's FTSE 100 index of leading shares was down 6.45 per cent at 4,115.43 points .. before pulling back slightly.
Elsewhere in Europe .. Frankfurt's DAX 30 sank 5.11 per cent to 4,400.11 and in Paris the CAC 40 also dropped 5.11 per cent to 3,034.51 points.
Across the Atlantic .. US stocks fell heavily in opening trade following worse than expected retail sales and renewed concerns over the health of the corporate sector .. especially banks.
On Wall Street .. the Dow Jones industrial average slid 234.88 points .. or 2.8 per cent .. to 8,213.68 while the broader Standard & Poor's 500 index fell 26.23,.. or 3.0 per cent .. to 845.56.
