Frankfurt DAX 4,078 (- 74.26)

Frankfurt was one of the hardest hit of the European markets in the share sell-off. The DAX index of 30 leading shares plunged 153.77 points, or 3.7 per cent, to 3,999.49 points in early trade, before recovering some of the losses in the afternoon. The market closed at 4,078.60 points, to give a net loss over the session of 1.79 per cent.

Paris CAC-40: 2870.13 (-51.71)

The Paris market, which was closed for a national holiday on Friday when Wall Street fell, suffered sharp corrections. The CAC40 was 1.77 per cent lower at the close, but this was well off lows hit in early trading when the market had dipped to 2.823.41 points, or 3.37 per cent down.

Milan Mibtel: 14,125 (-280)

Prices in Milan fell by 1.94 per cent. Losses were smaller than feared and the market was helped by a steady opening on Wall street. Leading shares were mainly lower, with banking shares hardest hit. "We expected to see some declines today, since our market was closed on Friday," one dealer said.