European stock markets in freefall following Paris financial summit

The response of European stock markets to the crisis summit held in Paris on Saturday could have not been clearer. On Monday, share prices across Europe plummeted.

The Dax (Frankfurt) lost 7 percent, the TecDax 11 percent, the FTSE 100 (London) 8 percent and the CAC 40 (Paris) 9 percent. In Iceland, share trading was halted altogether. Following the nationalisation of the country’s third biggest bank, the government itself was threatened with bankruptcy.