European shares have been trading lower following dramatic falls in Asia that saw Tokyo's Nikkei index fall 11%.
Global falls have largely wiped out the gains earlier in the week, as fears of recession cancelled out any optimism from government bank rescue packages.
In early trading, London's FTSE 100 fell 2.3% while the Cac 40 in Paris and the Dax in Frankfurt both fell 3.1%.
On Wednesday, New York's Dow Jones saw its worst one-day percentage fall since October 1987, closing almost 8% down.
In Tokyo, the Nikkei 225 index fell more than 1,000 points, closing down 11.4% at 8,458.45
Hong Kong's Hang Seng fell 7.6% to 14,785.60 points
Australia's main share index fell 6.7% while India's was down 4%
Fears of a protracted downturn also hit oil prices with benchmark US light, sweet crude for November delivery at a 14-month low of $71.64 a barrel
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