Market watchers are waiting nervously to see how Wall Street reacts to two days of share price turmoil when it re-opens on Tuesday following the Martin Luther King public holiday. Panic gripped world markets for a second day after Asian markets suffered another round of heavy losses brought on by concerns over weaknesses in the U.S. economy.Benchmark European shares, which also slumped on Monday, have fluctuated uncertainly, with both London and Paris bucking the downward trend in mid-morning.
But by 1245 GMT, London's FTSE 100 was again down more than 0.5 percent, Paris' CAC 40 was down almost 1.5 percent and Frankfurt's DAX 30 was down more than 2 percent.
"The panic continues following another rout in Asia," said CNN's Financial Editor Todd Benjamin. "No market has escaped the bloodbath, and the fear is palpable." Read Todd's blog on market panic
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