European share values are Continue to fall rapidly, following similar sell-offs in the US and Asia.
London's FTSE 100 index lose 4.1%, Germany's Dax is also drop 5.7% and France's Cac has fallen by 2.4%.
Invester remain on edge after a severe loss of confidence caused by a downgrading of US debt and further strife in the eurozone.
Banking sector share dropped adversely like RBS down 10%, Barclays falling 7.5% and HSBC 6.9% lower.
On the other way the bond markets, the yield on both Spanish and Italian government bonds fell further.
The European Central Bank (ECB) is intervening in the markets to try to keep the cost of borrowing down for the two countries, which are struggling to avoid a Greece-style bail-out by the authorities.
Worries about the level of US debt caused its credit rating to be downgraded from the top triple A grade - a move that lead to severe falls on Monday of between 3%-5% for European share markets and a 5.6% fall for the US Dow Jones index - its biggest in three years, with bank shares leading the way down.
Bank of America closed down 20% in US trading, banking sector hits adversely.
On Tuesday, Asian markets suffered their second day of steep falls, although Asian Markets had recovered around half of their overnight losses by the close.
The Nikkei finished fall 1.7%, South Korea's Kospi dropped 3.64%, and Hong Kong's Hang Seng down 2.8%.
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