Stock markets around the world suffered sharp losses on Thursday, after London has been hit by a series of terror blasts. The London Stock Exchange suffered losses of more than 3%. The explosions on the underground and bus networks coincide with the G8 summit and follow London’s winning of right to host the 2012 Olympic Games.

Official British sources report that two people have been killed and hundreds have been injured, but it is still unknown who is behind the blasts. The electronic media refer to 20 deaths. British PM, Tony Blair confirmed that London had come under terrorist attack and returned to the British capital immediately.

Stock markets were highly pressured by the latest developments: London FTSE is currently recording losses of 3.4%, Xetra Dax in Frankfurt is suffering losses of 3.1% and CAC 40 has dropped by 3.6%. Losses in the ASE stand at 2.3% and the drop in BOC in the ASE has affected the performance of BOC in the CSE.