Market meltdown? European stock markets down in early trading

5th August 2011

The UK's FTSE 100 index was down 3.2 per cent having lost nearly £50bn in value the previous day, Germany's Dax fell 3.5 per cent and France's Cac 40 index fell 2.8 per cent.

Earlier today, Asian markets had slumped with Japan's main index down 3.7% and Hong Kong's 4.6 per cent.

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