European stocks slump at open as panic spreads

London (AFP) – Europe’s stock markets tumbled by more than 3.0 percent 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 percent to 7,080.61 points, compared with the closing level on Monday. Elsewhere, the Paris CAC 40 dived 3.4 percent to 5,104.28 and Frankfurt’s DAX 30 lost 3.6 percent to 12,232 points.

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