European markets slide on U.S. woes - News, Weather, Sports, Toledo, OH

European markets slide on U.S. woes

PARIS (AP) - World stock markets are swooning again as the global financial crisis causes investors to worry asset prices still haven't hit rock bottom.

In early afternoon trading, markets in France and Germany were down about one-and-a-half percent, while London was down over 3 percent. Earlier, markets in Asia dropped around 5 percent. Financial stocks across Europe are especially taking it on the chin.

The collapse of Lehman Brothers and credit downgrades of American International Group are helping to fuel investor worries about wider financial and economic damage. One research head in Hong Kong calls today "a bloodbath" marked by "panic selling."

Source: Associated Press

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