The heavy selling on Wall Street led European bourses deep into the red today.

In London, the

FTSE

tested the pain barrier, with a fall of 188.6 points, or 3%, to 6,184.8, while the technology benchmark, the

Techmark

, tumbled 118.0, or 3%, to 3,707.3.

Tech stocks saw some of the fiercest selling.

Bookham Technology

dived 587p, or 16.7%, to

29.13 ($18.70), while

Psion

dropped 457p to

40.04.

Baltimore Technologies

derived little inspiration from its latest Aussie deal and shed 311p to

66.55, and

Affinity Internet

tumbled 112p to

16.25.

Pearson

led the media sector lower with a loss of 175p to

21.59, followed closely by

Reuters

(RTRSY)

, down 55p to ¿11.45.

Telecom stocks completed the trio of misery, with sentiment undermined by yesterday's

AT&T

(T) - Get Report

profit-warning.

Vodafone Airtouch

(VOD) - Get Report

sank 18.5p to 270, and

British Telecom

(BTY)

shed 50p to ¿11.22.

Colt Telecom

tumbled 269p to

26.60.

Anything that ended on a blue note today had to be something special, and

BP Amoco

(BPA)

managed to retain a penny gain at 551, after an upgrading by

Goldman Sachs

. The same broking house was less kind to the rest of the sector, with

Royal Dutch

(RD)

losing 23p to 584.

British Aerospace

fell 12p to 395, as analysts projected a dim view of the company's presentation of its

Marconi Electronic Systems

tie-up.

AstraZeneca

(AZN) - Get Report

produced better than expected first quarter figures, but market sentiment pushed the price down 69p to

26.03.

Blue Circle

finished 5.5p lower at 423 as the

Lafarge

bid deadline came and went without anyone the wiser.

Fairey Group

provided a ray of sunshine, with a gain of 48p at 487 on the proposed acquisition of

Spectris

and a proposed 1-for-6 rights issue at 355p per share, something of a rarity in this market when many companies are busy buying back shares, rather than issuing them.

Europe's other bourses finished Wednesday in negative territory, with the

Xetra Dax

in Frankfurt finishing down 178.99, or 2.4%, at 7376.93 and the

CAC 40

in Paris ending 126.76 lower, or 1.9%, at 6435.65. The Neuer Markt's

Nemax All-Share

index closed down 144.64, or 2.2%, at 6562.69.

German technology stocks ended lower as investors decided to favor old economy issues.

Siemens

(SMWAY)

closed down 5.72 euros, or 3.4%, at 163.50 ($148.52), software maker

SAP

(SAP) - Get Report

fell 29.00 euros, or 4.4%, to 639.00 and the Neuer Markt listed

T-Online

ended down 2.25 euros, or 4.7%, at 45.75.

Industrial concern

Linde

ended up 0.82 euros, or 1.9%, and carmaker

Volkswagen

(VLKAY)

rose 1.20 euros, or 2.8%, to 43.60.

Deutsche Telekom

(DT) - Get Report

fell 5.04 euros, or 6.7%, to 69.96 and

France Telecom

(FTE)

ended down 6.50 euros lower, or 3.7%, at 171.50, but

Telefonica

(TEF) - Get Report

closed up 0.04 euros, or 0.2%, at 26.78.