European stock prices are sharply lower in midday trading Thursday.

London's Financial Times index is down two percent. The CAC-40 in Paris is down 2.7 percent, and the DAX index in Frankfurt is down more than three and a half percent.

In New York, the S&P futures contract is down more than 21 points, indicating a lower opening.

Tokyo's Nikkei index lost one and one-quarter percent to finish at 8,944.

Hong Kong's Hang Seng index slumped 1.3 percent to finish the day's trading at 20,016.

Gold is trading at $1,807.03 an ounce.

The dollar is trading higher against other major currencies.