LONDON (AFP) - Europe's leading stock markets sank Friday in early trade, hit by growing doubts about the progress of a 700-billion-dollar bailout package for the US financial sector.

Shortly after the open, London's FTSE 100 index of leading shares was down 1.71 percent at 5,107.96 points, accelerating initial losses.

Frankfurt's DAX 30 lost 1.46 percent to 6,083.76 points and in Paris the CAC 40 shed 1.71 percent to 4,154.56 points.

The DJ Euro Stoxx 50 index of leading eurozone shares was down 1.76 percent at 3,150.53 points.

Political wrangling has blocked a deal on a mammoth US bailout for the stricken US financial system while the collapse overnight of the second largest US savings and loan institution, Washington Mutual, also piled pressure on markets.

Talks over the rescue proposal were gridlocked Thursday as US lawmakers were at loggerheads over the way forward, with Democrats accusing the Republicans of dragging their feet.

In Asian markets on Friday, Tokyo skidded lower, shedding 0.94 percent on the US bailout worries, dealers said.

  Add comment

Name:
E-Mail:
Comment:
Enter code: