Ireland and Europe join global stock sell-off on recession fears

Germany's DAX, France's CAC 40, Britain's FTSE, and Spain's IBEX 35 all fell more than 2%, before again paring back losses in afternoon trading on Monday

A stock monitor in Tokyo's Marunouchi business district showed nearly all stocks plunging with the Nikkei Stock Average ending over 4,400 points.

The ISEQ Index of Irish shares fell 1.24% on Monday as Irish stocks echoed the turmoil seen in other markets across Europe, the US, and Japan.

In Japan, shares at one point exceeded the losses experienced during the stock market crash of October 19, 1987, which came to be known as “Black Monday”. The country’s benchmark index, Nikkei,  fell by 12.40%.