By Philip Stafford, FT Investor, FT.com site
Published: Jul 15, 2002
European markets tumbled to fresh five year lows by the close on Monday, with weakness in banks and oil stocks leading a decline which went deeper than the sharp falls also unfolding on Wall Street.
The pan-European FTSE Eurotop 100 was 5.8 per cent lower at 2,067.93 hitting fresh five-year lows. Markets weakened at the same time the dollar weakened against the euro, with the two currencies reaching parity for the first time in two years.