Global stock markets fall amid continued concerns

In Frankfurt the Dax index fell by 2.9%, while in Paris the Cac 40 index was down nearly 3.5%.

Investors in London also suffered a fall in confidence with the FTSE 100 about 2.6% lower, while in New York the Dow Jones index opened 2.5% down.

Investors are favouring the safest assets outside Europe. The spread between the bund and 10-year Treasuries narrowed 6 basis points to 54 basis points. Japanese 10-year securities yielded 148 basis points less than the bund from 147 basis points yesterday.

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