The Iseq index succumbed to the global sell-off sparked by disappointing US consumer data, and led the fall in Europe today. The index shed 3 per cent to close at 2,858.28, while its peers across Europe lost between 1.5 and 2.2 per cent.
The financials were hit hard, with the two main banks trading down on reasonably strong volumes.
Allied Irish Banks (AIB) tumbled 7.5 per cent to €2.06, losing all of the ground made on Friday on the back of an informal investment approach from Canadian Imperial Bank of Commerce.
Bank of Ireland closed at €2.01, down 6 per cent, while Irish Life & Permanent slipped 5 per cent to €3.75.
Elsewhere, Greencore was weak, trading down by almost 6 per cent to €1.27.
Construction stocks also suffered on the day. Results out from US home improvements company Lowe’s disappointed expectations and weighed on the whole building sector. Dublin-based cement giant CRH fell more than 3 per cent - or 58 cent - at €17.51, while Grafton Group closed at €3.13, down almost 8 per cent.
Food stocks weren’t immune either, and Aryzta lost more than 4 per cent - or €1.02 - to finish just below €23.48.
The UK's FTSE 100 declined 1.5 per cent and France's CAC 40 retreated 2.2 per cent. Germany's DAX slumped 2 per cent.
(Additional reporting - Bloomberg)
