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World stocks sink on looming US rate hike prospect

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London - European stock markets slumped on Monday, mirroring a slide across Asia caused by the prospect of a US interest rate hike as early as this month.

Around 12:00, London's benchmark FTSE 100 index had shed 1.6% compared with the close on Friday.

Frankfurt's DAX 30 and Paris CAC 40 each tumbled by 2.1% in value.

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