LONDON, Feb 24 — European stock markets tumbled today after Russia launched an attack on neighbouring Ukraine.  At the start of trade, London stocks sank almost three per cent, while Frankfurt and Paris each slumped by more than four per cent before paring losses.

Around 0815 GMT, London was down 2.5 per cent, Frankfurt slumped 3.7 per cent and Paris slid 3.1 per cent.

"It’s panic in the markets,” said SwissQuote analyst Ipek Ozkardeskaya, noting that oil prices had briefly soared above US$100 (RM420) per barrel on fears of disruption to Russian crude.

Companies with the biggest presence in Russia were among those whose share prices were getting hammered.

The biggest faller by far among Europe’s major markets was Russian steel producer Evraz, which tanked more than 26 per cent in London.

French carmaker Renault, which owns a majority stake in Russia’s Avtovaz, the maker of the Lada, saw its shares fall 8.3 per cent.

Shares in Societe Generale, which leads one of Russia’s leading lenders, Rosbank, fell five per cent. — AFP