European stocks slump at open as panic spreads

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.

German stock market tumbles 3.6 percent at open

The DAX index of blue-chip German shares slumped in line with other major stock markets around the world as it opened at 9 am (0800 GMT) Tuesday, falling 3.6 percent to 12,232 points.

Shares from all sectors of Europe's largest economy slipped into the red, with the biggest losers including the world's biggest carmaker Volkswagen, airline giant Lufthansa and lender Commerzbank.