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European stocks close sharply lower on bank fears

European stock markets close sharply lower on bank turmoil
Source: Pixabay

European stock markets closed sharply in the red on Wednesday as Credit Suisse shares crashed to a historic low on renewed concerns over the banking sector.

London’s FTSE 100 sank 3.8 percent to 7,344.45 points, the Paris CAC 40 dropped 3.6 percent to 6,885.71 and the Frankfurt DAX lost 3.3 percent to 14,735.26.

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Agence France-Presse (AFP) is a French state-owned international news agency based in Paris. It is the world's oldest news agency, having been founded in 1835 as Havas.

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