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(ANSAmed) - ROME, OCTOBER 10 - Milan stocks continued to tumble Friday after Tokyo had its worst day ever amid continuing fears of a global recession despite coordinated rate cuts and bank bailouts. Milan opened 8% down amid a flurry of suspensions for excessive losses but steadied slightly at -6%. Among the biggest losers were Unicredit (-10.86%), Intesa Sanpaolo (-10.90), Telecom (-9.97%) Eni (-8.27%) and Fiat (-7.99%). European shares lost another 7% of their value, after dropping 15% in the four days to Thursday's close. They were at their lowest level since 2003. Tokyo lost almost 10%, the biggest one-day drop in its history. London and Frankfurt were also 10% down. Finance ministers from the Group of Seven begin two-day talks in Washington Friday aimed at finally curbing the running panic and limiting the damage to the real economy. US President George W. Bush is set to address the nation on the crisis for the second time, at 14:00 GMT, to try to reassure investors. According to one report, the US is considering guaranteeing billions of dollars in bank debt and temporarily insuring all US deposits. The International Monetary Fund is also preparing a bailout plan. Back in Italy, investors continued to flee to state paper with the Treasury announcing it had raised Friday's auction of three-month BOT bonds from 4 to 6 billion euro. (ANSAmed).