LONDON, Jan 21 (Reuters) - European shares sank 4 percent by late morning on Monday, putting them on track for their biggest one-day fall in more than four and a half years as U.S. recession fears rattled investors and oils and financials took a hammering.
At 1108 GMT, the FTSEurofirst index index of top European shares was down 3.9 percent at 1,304.98 points, a level not seen in eighteen months.
Heavyweight energy stocks were the top individual negative weights, with BP (BP.L: Quote, Profile, Research) down 4.6 percent and Total (TOTF.PA: Quote, Profile, Research) 4.5 percent. But banks were the worst sector, contributing a quarter of the index's losses.
"This looks like a climax sell-off," said Brewin Dolphin chief strategist Mike Lenhoff.
a climax sell off
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Last
$60.00 |
Change
0.520(0.87%) |
Mkt cap ! $11.63B | |||
| Open | High | Low | Value | Volume |
| $59.54 | $60.22 | $59.50 | $25.48M | 424.9K |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 2 | 600 | $59.98 |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| $60.01 | 288 | 1 |
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