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Markets slide as eurozone worries weigh on sentiment

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Markets were trading in the red around midday as eurozone worries continue to weigh on sentiment, and with a dispute in the Far East between Japan and China deteriorating.

Concerns over the European debt crisis are impacting markets once more this week despite action from the European Central Bank (ECB), with fears growing more intervention will be forthcoming if yields on peripheral debt return to danger levels near 7%.

Elsewhere, rising tensions between Japan and China are also impacting investors after Japan bought some islands near Taiwan which China has since claimed sovereignty over.

In response, protests are being held against Japanese businesses, with Nissan temporarily halting production in two factories, and Fast Retailing closing 42 stores on the Chinese mainland.

The dispute, coupled with the eurozone worries, has given investors enough reason to sell, with many also keen to lock-in gains after a strong spell for markets last week.

Following falls in Asia and the US overnight, indices throughout Europe are  lower, with the Euro Stoxx down 1.38% to 2,547 points, and the Italian FTSE MIB and Spanish IBEX 35 both off 2.29% and 1.79% respectively.

The French CAC is also off 1.21% to 3,510, while the German DAX is 1.3% weaker at 7,327. Meanwhile in the UK, the FTSE 100 is not immune, with the blue chip index off 0.81% at 5,845.

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