Europe Dragged Down By China
Europe's leading stocks plunged on Tuesday after a sharp sell off by investors in China sparked fears of a slowdown in the world's hottest economy. Major European indexes were down about 2.5% in afternoon trading. Britain's FTSE 100 share index lost 137.60 points, falling to 6,297.1, Germany's Dax benchmark index slipped 142.93 points, to 6,884.7, while France's Cac 40 was down 128.10 points, at 5,634.
The news that Chinese shares had dropped 9% on fears the government would try to stem some the country's sizzling growth, (See: "Black Tuesday In China") impacted a number of European companies that have significant operations in the country.
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