Europe: Stocks slump at open as panic spreads

[LONDON] Europe's stock markets tumbled by more than 3.0 per cent in opening deals on Tuesday, as a fierce global selloff - rooted in fears of rising US interest rates - showed no sign of abating.

London's FTSE 100 index sank 3.5 per cent to 7,080.61 points, compared with the closing level on Monday. Elsewhere, the Paris CAC 40 dived 3.4 per cent to 5,104.28 and Frankfurt's DAX 30 lost 3.6 per cent to 12,232 points.

AFP