Global stock markets slump on eurozone debt fears

Global shares have dropped sharply for the second day as fears about the eurozone debt crisis intensified.

New York's Dow Jones index fell more than 3% in early trading, while Frankfurt's Dax and London's FTSE 100 indexes dropped almost 3.5%.

European Commission President Jose Manuel Barroso's warning that the sovereign debt crisis is spreading spooked the markets.

Stephanie Flanders reports.

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