ISEQ loses over 3% in morning trading

The ISEQ index of Irish shares followed world markets on a downward course this morning, shedding 85.95 points to 2,514.62 by 1.30 pm against a backdrop of continued economic turmoil and a global selloff prompted by the failure of the $14bn US auto industry rescue bid.

The ISEQ index of Irish shares followed other markets on a downward course this morning, shedding 85.95 points to 2,514.62 by 1.30 pm against a backdrop of continued economic turmoil and a global selloff prompted by the failure of the $14bn US auto industry rescue bid.

The European Union's announcment of a €200bn fiscal stimulus package failed to immediately stem the losses, with shares falling across sectors.