European shares open down as recession fears resurface

Business Materials 15 October 2008 12:32 (UTC +04:00)

A downbeat end to share trading in Wall Street and across Asia, resulted in a weak start to stocks in Europe Wednesday as recession fears resurfaced.

After beginning the trading day down 0.7 per cent, Europe's blue-chip Stoxx50 continued the downward momentum falling by 1.4 per cent to 2376 shortly after opening, reported dpa.

Wednesday's weak share trading snapped two days of big gains after investors reacted positively to the coordinated crisis management plans launched by governments around the world.

However, with the world economy expected to slide into recession in the coming months, worries about the outlook for corporate earnings have begun to emerge.