European and US markets fall despite Fed cut

Stocks listed on European and US bourses continued to slide on Wednesday, following the Federal Reserve's emergency 75 basis point cut on Tuesday.

The Dow Jones Industrial Average had fallen by 1.6% to 11,781 at midday in the United States. Across the Atlantic, the FTSE index closed down 2.3% at 5,609. The Frankfurt-based DAX and Paris's CAC 40 bourse both slumped, falling by 4.9% and 4.25% respectively.

Markets in Asia fared better. The Nikkei average of leading Japanese stocks was up 2.%, t

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