European markets trading weak; DAX slips 5%

Industrial raw materials fell across the board on Tuesday, with crude oil down by around 2%, as risk aversion gripped financial markets after Japan warned of higher radioactive levels following fresh explosions at an earthquake-stricken nuclear plant.

European markets slipped after the French Embassy in Tokyo warned that a low level of radioactive wind could reach the capital -- 240 km (150 miles) south of the plant -- in about 10 hours.

At 15:22 hrs (IST), DAX slipped 4.85% or 332.92 points at 6533.71.

CAC 40 was down 3.40% or 131.86 points at 3746.18.

FTSE 100 shed 2.75% or 158.69 points at 5616.55. 

Japan's nuclear safety agency has said there are two holes of 8 sq m (86 sq feet) in a wall of the outer building of the number 4 reactor after an explosion there.

There have been a total of four explosions at the plant since it was damaged in last Friday's massive quake and tsunami. The most recent were blasts at reactors No. 2 and No. 4.

However, Asian markets ended lower today. Among them Nikkei 225 shed 10.55%, while Shanghai Composite, Hang Seng, Straits Times, Seoul Composite and Taiwan Weighted were down 1.5-2%.