By Marcus Leach

In what is becoming an all too familiar story stocks throughout Europe have begun the day with yet more losses.

As fears continued to mount over a global economic slowdown Asian stocks fell overnight and European markets opened down once again.

Shortly after open London's FTSE was down 3.1%, Germany's Dax down 3.2%, and France's Cac by 1.9%.

With fears of leading economies about to slip back into recession, investors are concerned that global growth is slowing down.

Despite the worries elsewhere the price of gold, seen as a safe-haven investment, hit a new record high, with the spot price reaching $1,833.81 an ounce.

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