Stock Markets Across Europe Experience Heavy Losses

Stock markets throughout the European Union have dramatically fallen in the wake of heavy losses stateside at the close of trade today.

After upward momentum in trade towards the end of last week, ongoing news of the decade low housing sales in the US over the last month have led investors across Europe and the USA to lose total confidence in market investments.

Much of the day’s disastrous trading was spurred by heavy losses on the Dow Jones index stateside. The major US index reported losses of around 2% over the course of today alone - its biggest shed in value since the first week of this month.

Securities in banks and investment managers were significantly down on the day, with the ongoing fear of a liquidity crisis refreshed by continuing bad news from the troubled US housing market.

The Dow Jones closed down by a staggering 280.28 points to 13041.9, whilst the NASDAQ exchange was also proportionally down by a similar level, losing 60.61 points to 2500.6.

In France, the leading CAC 40 index was heavily down on the day, matching the same scale of the losses on the Dow. At the close of trade, the index had fallen by 116.37 points, closing at 5474.2.

In Germany, the recently more stable DAX exchange was also heavily down, losing 55.75 points to close at 7430.2, with a key study last week revealing a downturn in German market confidence.

In London, the FTSE 100 index was similarly down losing 117.90 points over the course of the day’s trade to 6102.2, completing the all round red screen results of European trade today.

Analysts are predicting the results to continue even further into the red tomorrow, with the possibility of some upturn in trading resulting from ‘bargain’ buys.

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