Global market turmoil continues
 

Losses on major stock markets have continued following the collapse of top US investment bank Lehman Brothers.

European markets opened sharply lower for a second day, while major Asian stocks tumbled.

Shares in Japan, South Korea and Hong Kong fell more than 5%, having been shut on Monday for public holidays.

The fourth-largest US investment bank, Lehman filed for bankruptcy protection on Monday, becoming the latest victim of the global credit crunch.

The FTSE 100 of leading UK shares was down 1.4%, or 75 points, at 5,129.5 points. French and German stock markets also opened lower.

The US stock market on Monday had its worst day's trading since 9/11.

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