Stocks Down in Europe Financial Centers : Market: Traders report price declines of 3% to 15% as ‘circuit breakers’ are triggered. Japan’s Nikkei closes down 1.8%.

Stock prices plummeted across Europe today in their first response to Wall Street’s plunge on Friday, but then recovered on a better-than-expected performance in New York later in the day.

Trading was disrupted in several European financial centers as the price declines triggered European versions of “circuit breakers” and prompted authorities in some countries to step in and try to contain the damage.

European traders reported price declines of 3% to 15%.

London’s Financial Times-Stock Exchange 100-stock index fell 70.5 points, or 3.2%, to close at 2,163.4. At its lowest point, in the early afternoon, the index was off nearly 200 points, or 9%, as investors grew nervous about Wall Street’s approaching opening.

Prices on the Frankfurt Stock Exchange took their steepest plunge ever, with the German Stock Index plunging 203.56 points, or 12.8%, to close at 1,385.72.

In Athens, the main market index fell 144 units, or 11.3%, to 1,130.32 at the close. On the Oslo market, the main indicator fell 59 points, or about 11%, to close at 464.

Wall Street’s big decline Friday came after the European markets had closed for the weekend and the Tokyo market’s relatively calm response earlier today did not reassure European investors.

Japan’s Nikkei Stock Average fell 647.33 points, or 1.8%, to close at 34,468.69 today.

Tokyo analysts pinned Friday’s Wall Street plunge on excessive takeover activity in the United States. They said the situation otherwise was favorable for stock markets, with interest rates not a big problem.

Official trading was delayed indefinitely on the Brussels exchange, and for 30 minutes in Frankfurt, because of an excess of sell orders, stock exchange officials said.

Trading in most shares listed on the Paris Stock Exchange was temporarily suspended this morning because of insufficient buying orders, traders said.

It was the largest number of stocks suspended since the October, 1987, world shares crash, and not enough stocks were being traded to allow a percentage calculation of the Paris market fall.

In Amsterdam, the Bourse’s management limited share price changes to 3 guilders, the equivalent of $1.43, requiring a 15-minute cooling-off period if they exceed that limit. Traders called the move highly unusual.

The London market, Europe’s largest, was less feverish than during the 1987 crash, dealers said, and London’s Stock Exchange said the trading system was holding up well.

“There isn’t the same panic as there was during the 1987 crash,” said Bob Wade, joint head of market making at Robert Fleming and Co. “So the pressure on the dealing machinery hasn’t been so intense.”