European shares have fallen sharply at the open, as investors react to new travel restrictions from the US.
President Trump announced late Wednesday night local time that the US was suspending travel from 26 European countries for the next 30 days, effective Friday midnight.
In the opening minutes of trade, Europe's main markets were all down. The FTSE 100 was down more than 2%, the German Dax was 5% lower and the French CAC 40 fell 3%.
Airline stocks were among the big fallers. IAG, owner of British Airways and Iberia, was down 7%, Lufthansa was down 9% and Ryanair was down nearly 10%.
Shockwaves were felt in Asia too. Japan's Nikkei 225 slipped into a bear market, defined as a drop of more than 20% from the most recent high. The benchmark index closed down 4.4%.
These countries are affected: The 26 countries included in the ban are Austria, Belgium, Czech Republic, Denmark, Estonia, Finland, France, Germany, Greece, Hungary, Iceland, Italy, Latvia, Liechtenstein, Lithuania, Luxembourg, Malta, The Netherlands, Norway, Poland, Portugal, Slovakia, Slovenia, Spain, Sweden, and Switzerland.