Europe stocks are sharply lower amid growing fears over banks' exposure to Dubai World, the...

|By:, SA News Editor

Europe stocks are sharply lower amid growing fears over banks' exposure to Dubai World, the state-owned conglomerate which yesterday asked for a standstill on its $60B debt pile. The emergence of Dubai's financial problems chimes with warnings earlier this week from IMF head Dominique Strauss-Kahn that banks have only worked through half their toxic assets. FTSE -3.1% to 5196. CAC -3.4% to 3678. DAX -3% to 5628.