European stocks drop after Wall Street slide

European stocks drop after Wall Street slide
AFP
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First Published: Wed, Mar 25 2009. 02 27 PM IST
Updated: Wed, Mar 25 2009. 02 27 PM IST
London: Europe’s main stock markets fell at the open on Wednesday following a slump on Wall Street overnight.
London’s FTSE 100 index shed 0.41% to 3,895.61 points, Frankfurt’s Dax 30 lost 0.29% to reach 4,175.33 points and in Paris the CAC 40 retreated by 0.64% in value to stand at 2,855.97 points.
Wall Street fell heavily on Tuesday as investors retreated from a sizzling stock rally a day earlier fueled by a new US government plan to clean up toxic assets in the banking system.
The Dow Jones Industrial Average sank 1.49% to close at 7,659.97 points, as selling pressures intensified late in the day following Monday’s surge of 6.84% for blue chips.
Japanese share prices ended narrowly mixed Wednesday with the Nikkei dropping 0.10% as investors took profits following the recent rally to a 10-week high, dealers said.
The Nikkei-225 index fell 8.31 points to 8,479.99.
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First Published: Wed, Mar 25 2009. 02 27 PM IST
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