Inflation fears hit European markets

FEARS of rising inflation and higher interest rates triggered a share sell-off across Europe yesterday wiping billions of euro off market values.

In Dublin the ISEQ lost 1.65%, or more than €1.5 billion of its value, yesterday with most major shares, from banks to building companies, losing close to 2% of their value on the day.

In London the FTSE fell 1.83% and the CAC in France was off 1.95% and in Germany the Dax was down 2%.