While the current falls are widespread and happening on other exchanges and international money markets, the Irish (Iseq) index was down 1.28% at 10.50am.
The banks are worst affected – as in earlier drops - with most down by around 2% earlier today and Irish life and Permanent down by 5%.
Yesterday, the Irish stock exchange fell to its lowest level in almost two and a half years, with financial and construction stocks being particularly affected.
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However, while the other European markets do not so far seem to have experienced the same losses as the Irish market, this is partly due to the US markets being closed for today's Thanksgiving holiday.
These latest Irish market problems are continuing on from yesterday - when more than €4bn was wiped off the value of Irish shares - amid continuing uncertainty in international markets.
Investors have lost around €8bn this week alone and the ISEQ index has lost 19% of its value in the last month.
The continuing slide has also knocked 5% off pension funds so far this year.
Stocks markets fell in all 18 western European markets but the Irish market was again hit more severely than others.
In the US, the New York stock exchange closed down 1.6% last night amid new fears about a slump in the housing market there.
There are concerns that further bad news from the banks could emerge while US markets are closed.
(BMcC)
