European shares slump as Chinese losses rattle markets

Stock markets in London, Paris and Frankfurt have opened sharply lower as fears of a Chinese economic slowdown continue
London's FTSE 100 index was down by 2.5% in early trade, while major markets in France and Germany also opened down by more than 3%.
Shares in Asia were hit overnight, with the Shanghai Composite in China closing down 8.5%, its worst close since 2007.
The Chinese authorities tried in vain to reassure investors.
Beijing's latest intervention, to allow its main state pension fund to invest in the stock market, failed to calm traders' fears, both in China and abroad.
Over the past week, the Shanghai index fell 12%, adding up to a 30% drop since the middle of June.
The sharp fall sparked a global sell-off, with the Dow Jones in the US losing 6%, while the FTSE 100 posted its biggest weekly loss this year, of 5%.
Earlier this month, the Chinese central bank devalued the yuan in an attempt to boost exports.
to haunt investors.