Eurozone shares fall as Cyprus seeks support from Russia

European markets ended Tuesday lower as concerns over Cyprus and uncertainty over the European debt crisis weighed on investor confidence.

News from Cyprus caused Europe's largest markets to slide down for the second day on Tuesday, sparking suggestions from some analysts this may be the start of a correction. During the weekend, Cyprus agreed to impose a tax on bank accounts in order to secure a €10bn bailout package from the eurozone. The agreement would have seen accounts up to €100,000 taxed at 6.75% and larger deposits burdened with a 9.9% levy. After widespread outrage, the island's finance minister Michael Sarris agreed to reconsider the deal and has turned to Moscow for support. European markets plummeted o...