IHA News Agency

European stock markets have plunged at the start of trading today, after carnage in Asia and on Wall Street amid fears of a fresh financial crisis.

London and Paris were both down 3.0% shortly after the start of trade, Frankfurt dived almost 4.0%, Milan slumped 3.5% and Madrid shed 2.4%.

Earlier, Asian stock markets plummeted amid fears the world is heading towards another financial crisis.

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