EUROPE IS TANKING: GREECE - 6,68%, SPAIN - 5,3%, PORTUGAL - 4,5%, FRANCE - 3,4%

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European stocks plunge on Greek crisis fears

PARIS, May 4 AFP
May 05 2010, 01:25AM

Stocks in Greece, Portugal and Spain suffered major plunges on Tuesday, with French and Italian indices also sharply down, as investors voiced fears that Greece's fiscal crisis could spread across Europe.

Greek stocks closed down 6.68 per cent on a day of protests against budget austerity measures in Athens, while Spain's main Ibex-35 index was down more than five per cent and Portugal's PSI-20 fell over four per cent during trading.

The CAC 40 index in Paris was down by 3.36 per cent and the FTSE Mib in Milan dropped 3.45 per cent by late afternoon.

Meanwhile the Dax index in Germany, Europe's biggest economy, was trading down 2.09 per cent.