LONDON — Europe's indexes all slumped this morning, as European finance ministers failed to come up with immediate measures to tackle the ongoing Euro zone debt crisis during meetings in Poland over the weekend.
The FTSE 100 in London fell 2.1 percent, the CAC 40 in Paris dropped 2.7 percent, the DAX in Frankfurt fell 3 percent and the FTSE MIB in Milan was down 2.4 percent during mid-morning trading. Japan's Nikkei 225 was closed today for a public holiday.
Banking stocks and mining companies, including Lloyds Banking Group in London and Societe Generale in Paris, led the falls, while LVMH was the biggest faller in the CAC 40, down 3.4 percent.
Almost all fashion and retail stocks fell during trading this morning. Safilo Group fell 3.5 percent, Swatch Group fell 3.3 percent, Prada closed down 3.7 percent and Esprit Holdings closed down almost 20 percent, after posting a 98 percent fall in profits last week.
In terms of retailers, Carrefour fell 2.4 percent, while Marks & Spencer fell 1.8 percent.
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