European stocks sink to lowest close in 2-1/2 years
European stocks sank more than 4 per cent to their lowest close in nearly 2-1/2 years on Monday as the fire sale of troubled Wall Street investment bank Bear Stearns sparked a sharp sell-off among banks.
EUROPEAN stock markets closed sharply lower today as news of more corporate problems highlighted concerns about the spreading damage from the global credit crunch to the underlying economy.