Financial world in turmoil as market goes berserk...

European and Asian stock markets have fallen steeply as government bank bail-outs in the US and Europe failed to stem fears of slower growth. 

London's FTSE 100 index and France and Germany's key stock markets all sinking more than 5% by early afternoon. 

Japan's Nikkei index fell 4.3% to its lowest close since February 2004. Hong Kong's Hang Seng index slid 5%, while key Russian markets slumped by 15%. 

The falls came in the first sessions since the US approved bank bail-out. 

The $700bn (£398bn) rescue plan's lack of immediate impact on the availability of credit for banks had contributed to markets being driven downwards, analysts said. More...

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