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European shares dropped in early trading, with Germany’s DAX falling 6.5% to 19,311.29. In Paris, the CAC 40 shed 5.7% to 6,861.27, while Britain’s FTSE 100 lost 4.5% to 7,694.00.

Meanwhile, Amsterdam's stock exchange was down 5.5%, Sweden's down around 7% with Denmark's also nosediving around 7%. 

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