European shares fall sharply after U.S. economic data

Group of 20 defuse 'currency war'

European shares fell today after it warned the Federal Reserve (Fed) of the significant risks facing the U.S. economy

The FTSEurofirst 300 ‪ for the leading European shares was 2.5 percent to 895.32points, after falling 1.7% in the previous session. The index has lost 20 percent this year because of fears of the debt of the euro zone and concerns about global economic growth.

Mining stocks have been under enormous pressure with the decline in prices of major minerals between 1.4 and 3.4% on worries about demand for industrial metals. Themetal sector index fell 4.8% European.

Across Europe, the FTSE opened 100 ‪ London Stock Exchange was down 5.2%, whilethe CAC 40 ‪ French 2.7%.

The DAX Index was down ‪ shares of big German companies in the Frankfurt Stock Exchange 3.4%.