European markets closed sharply down

Falling commodity prices amid concerns about global demand sent US markets and Europe in the red zone

The Dow Jones fell 254 points, or 1.5 percent, to 16,256.

London's FTSE 100 slipped 2,8%, Dax in Frankfurt dipped by 3.8% and the CAC 40 in Paris fell 3.4 percent.

Volkswagen is the biggest loser of the main European markets for a second day, as the automaker announced how much money we allocate to manipulate emissions of their vehicles.

The company's shares plunged 20% after having declined by 19% on Monday.

Shares of other car manufacturers also decreased, Renault slid 7%, Daimler fell by 7%, while BMW fell by 5%.

In London, the falls were led by mining shares, as worries about demand from China and emerging markets continued to reduce shares.

Glencore has decreased by 10%, Anglo American fell by 6% and Antofagasta fell by 7% as copper prices fell to two-week low.

There are still jittery about the Federal Reserve will decide when to raise interest rates after the US central bank decided not to do so last week.

The decline in mining stocks was caused by the Asian Development Bank (ADB), which cut its forecast for growth in China.

"If the fall of ADB were not bad enough for the world's stock markets and put the mining sector down sharply on sustained global growth fears, the automotive sector is hit full backwards as Volkswagen's woes continue," said Michael Hewson of CMC Markets.

The Nasdaq is down 97 points, or 2% in 4731, while the S & P 500 fell 1.5 percent to 1936.

Е.Dimitrov JrTrader