London's benchmark FTSE 100 index slumped 2.39 percent to 5,089.91 points shortly after the open, Frankfurt's DAX 30 index shed 2.44 percent to 5,063.85 points and in Paris the CAC 40 plunged 3.32 percent to 2,875.90.

Milan dived 3.0 percent and Madrid 2.21 percent.