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European stocks post sharp losses

Europe's main stock markets closed after suffering heavy losses on Monday, with London's FTSE 100 index of leading companies falling by 1.58 percent to 6,246.84 points.

Frankfurt's DAX 30 slumped 2.49 percent to 7,638.23 points, and in Paris the CAC 40 shed 3.01 percent to 3,659.91 points.

In Milan the FTSE Mib plummeted by 4.50 percent, while in Madrid the Ibex-35 gave up 3.77 percent.