Renewed investor fears about the global economic outlook sent European shares tumbling Wednesday with the euro skidding down by more than 2 per cent to below 1.29 dollars. The new round of worries about the prospects for the global economy came in the wake of the Federal Reserve warned that the US recovery was losing momentum as well as new concerns about China's growth outlook, according to dpa. This in turn resulted in the New York Dow Jones index slumping by about 2 per cent in early trading. At the same time, share trading in Europe came to an end Wednesday with the main indexes also pointing down. The benchmark Stoxx 600 had lost almost 2 per cent by late afternoon trading, falling to 255 points. National bourses chalked up even bigger falls with the stock markets in both Paris and Frankfurt diving by more than 2 per cent. The London Stock Exchange's FTSE 100 index dropped by 2.2 per cent to 5258.26 points. Investor worries about risk in the light of the world economy losing momentum helped to trigger a retreat from the euro, which had dropped by 2.3 per cent to 1.2876 dollars in late afternoon trading.
