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NEW YORK - The Dow Jones industrials fell 600 points or 7.0 percent in afternoon trade to slide under 8,000 points for the second time Friday amid a brutal selloff in global markets.
The blue-chip index was at 7,978.80 at 1755 GMT before recouping a portion of the losses.
At 1800 GMT, the Dow traded down 502.34 points (5.86 percent) at 8,076.85.
The Nasdaq slid 6.24 percent to 1,551.40 and Standard & Poor's 500 plunged 7.53 percent to 850.16 in an eighth straight day of losses for Wall Street.
The London FTSE 100 index of leading shares fell 8.85 percent to finish at 3,932.06, its sharpest daily plunge since the 1987 stock market crash.
In Paris the CAC 40 lost 7.73 percent to finish at 3,176.49 while the Frankfurt Dax shed 7.01 percent to end the week at 4,544.31.
Japan's Nikkei stock index plunged 9.62 percent, the biggest loss since "Black Monday" in October 1987 as market panic grew over the global financial crisis.
Market action came as world finance chiefs were preparing an emergency meeting in Washington. Interest rate cuts and billions of dollars' worth of cash injections by central banks failed to calm the mayhem.
"The crisis is now self-reinforcing and shows no signs of abating," said Chris Lafakis at Economy.com.
- AFP /ls
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