Over $1 trillion wiped off top Europe shares in August
LONDON (Reuters) - A top European share index is set for its biggest monthly fall since 2008 and has lost over $1 trillion (637 billion pounds) of value so far in August, driven by worries over the health of China's economy that have hit global markets.
The pan-European FTSEurofirst 300 <.FTEU3> is down 12 percent so far in August, its biggest monthly drop since October 2008.
The index has lost 1.1 trillion ($1.26 trillion/803 billion pounds) euros in market value since the start of the month. An unexpected devaluation of the Chinese yuan and disappointing data from the world's No. 2 global economy have fuelled the sell-off and stoked fears of deflationary pressures.
(Reporting by Alistair Smout; Editing by Lionel Laurent)
