The Dublin Exchange tumbled 126.37 points to 8,746.33.
In the financials, AIB declined by 50c to €21.15, while rival Bank of Ireland dropped 18c to €16.32. Anglo-Irish shed 28c to €14.32.
In construction, market heavyweight CRH was the leading faller giving up 56c to €28.49. Grafton fell back 24c to €11.00. McInerney bucked the trend to add 5c to €13.20.
Elsewhere, Petroneft Resources climbed 13c to €0.70, United Drug added 3c to €3.60, while Ryanair shed 16c to €9.56.