European stocks slide - Spokane, North Idaho News & Weather KHQ.com

European stocks slide

LONDON. - The seismic shakeup on Wall Street has sent stock markets tumbling in Asia and Europe.

Markets sagged in Britain, France and Germany, after the Asian markets that were open finished in the red.

The largest ones were closed for a holiday. India's Sensex was off more than 5 percent. The declines came as Wall Street and the U.S. government took a series of steps aimed at bringing an end to the credit crisis that has caused global financial turmoil for more than a year.

A global consortium of banks has announced a 70 billion dollar pool of funds to lend to ailing financial companies, a move geared toward preventing a worldwide panic on stock and other financial exchanges.

The Federal Reserve is chipping in, too, including broadening the types of assets that investment banks can put up to get emergency loans from the Fed.

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