European stock markets tumble on Covid support concerns

Shares slump amid signs that central banks could start withdrawing pandemic assistance

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European financial markets have fallen sharply on fears that central banks will start tapering their emergency Covid-19 support packages, despite slowing growth in the world economy.

In London, the FTSE 100 fell by more than 160 points, or about 2.3%, on Thursday morning to trade at about 7,000 as share prices tumbled across the continent after the US Federal Reserve said it could start cutting back support for the economy this year.