Russia: "It's delirium, that's what we call it," said one Moscow economist. Shares dropped 17.3 per cent to a new record low. Trading in the rouble was suspended.
Dublin: "It's like catching a falling knife deciding when to get back into the market if you get the timing wrong you get cut," said one dealer. The ISEQ index lost more than 4 per cent as investors dumped shares and put their money into Government bonds.
Eastern Europe: "The market is now a casino", said one trader in Budapest.
Markets dropped dramatically, with Hungarian shares down 14 per cent. In Prague, stocks fell 7 per cent and in Warsaw 6 per cent.
London: "The turmoil continues, there's no way for us but down," said one dealer in the City. The FTSE 100 index of UK shares fell by 3.37 per cent.
EU Markets: "People are just too scared to buy at the moment. Who knows how much longer this will go on for?" said a Frankfurt dealer. Frankfurt stocks fell 4.5 per cent, Paris dropped 4.28 per cent, Milan fell 4.4 per cent and the Portuguese market dropped 6 per cent.
US Markets: "We're right on the edge right now," according to a New York analyst. The Dow Jones index fell by more than 4 per cent in very volatile trading.
Latin America: "The truth is that there is a lot of blood flowing here. Spirit is low and people seem panicky," according to a dealer in Argentina. Shares in Argentina fell down 10 per cent and in Brazil they slipped down over 8 per cent. They also fell heavily in Venezuela.
