The persistent volatility of world stock markets wiped 68 points or 1.2 per cent off the ISEQ today in what was another torrid day for investors.
Hopes of a rally on Wall Street rapidly faded after another slew of profit warnings from corporate America and fears of a Japanese banking collapse.
In Dublin, fallers outnumbered gainers with Elan falling 59 cents to euro 52.31, Bank of Ireland down 17 cents at 9.83 and CRH off 60 cents at 17.70.
Ryanair shed 19 cents to euro 10.30, and Trintech fell 34 cents to euro 2.06 as investor bailed out of technology issues.
London also closed sharply lower after a volatile session. The FTSE 100 index closed 94.8 points lower at 5,625.9.
Volume was a massive 2.28 billion shares in 142,669 transactions, swollen by hefty trades in Vodafone, Cable & Wireless, BPT and Trafficmaster.
Cable & Wireless took another battering today after yesterday's shock profits warning.
The real blow to sentiment, however, came from rumours that emerged in midmorning trade that Nokia - the only major handset producer yet to warn on earnings - was poised to add to the sector woes and guide estimates lower.
Although Nokia moved quickly to downplay the story, the mere hint of another warning triggered some very hefty markdowns in techs and telecoms issues - showing just how fragile sentiment in London remains.