| 10.10.2008 | 17:00 UTC
European markets close with more heavy losses
European stock markets have ended trading for the week with another day of heavy losses. Frankfurt's DAX index closed down by around seven percent, after plunging by almost 10 percent earlier in the day. The CAC 40 in Paris was down by almost eight percent and the FTSE 100 in London closed down by almost nine percent. Shares on the New York stock exchange plunged within minutes of the opening of the last trading session of the week. Since then, they have bounced back somewhat. The Dow Jones Industrial Average is down by about four percent. Meanwhile, trading has been suspended in South America's biggest stock market, Sao Paulo after it lost more than 10 percent.
