LONDON AP Share prices dropped sharply on European stock exchanges Tuesday following big falls on Wall Street and in Asian markets. The London Stock Exchange Europe's largest set the pace with a fall of 2.6 percent on the Financial Times-Stock Exchange 100-share index. Blue-chip indexes were down 3.2 percent in Germany 3.4 percent in Paris 3.2 percent in Oslo 2.7 percent in Zurich and Stockholm 2.6 percent in Amsterdam and 2.3 percent in Milan and Madrid. ``There was just nothing supportive out there'' said Peter Caulkett of Teather-and-Greenwood in London. ``But there is a feeling that stocks had come up too far too soon and investors are now running scared.'' On Wall Street Monday the Dow Jones industrial average fell 2.3 percent in the first big wave of profit-taking since the market recovered strongly two months ago. Asian markets followed the trend with Hong Kong's Hang Seng Index down 4.1 percent Tuesday and Singapore's Straits Times Index off 3.4 percent. Tokyo was an exception with a mild 0.3 percent decline in the Nikkei 225-stock average. Local concerns contributed to the drops on some European exchanges. Analysts in Frankfurt said the 3.2 drop on the Xetra DAX index partly reflected disappointment with Deustche Bank's announcement that it expected no immediate savings from its takeover of Bankers Trust a U.S. investment bank. Deutsche Bank's shares fell 2.7 percent in the morning. In Paris the CAC-40 index was down 3.4 percent led by 9.9 percent plunge in shares of Total. Investors deserted the petroleum company after is announced it was getting back into the refinery sector by acquiring Petrofina of Belgium. The Swiss Market Index was 2.7 lower in part because of profit-taking in the financial sector and a switch toward buying pharmaceutical stocks. rb-er APW19981201.0028.txt.body.html APW19981201.0044.txt.body.html