The FTSE 100 ( ^FTSE ) and European stocks were mixed on Wednesday morning as markets in China plunged after a press briefing by Beijing’s top economic planner disappointed investors.

China stocks suffered their worst fall in 27 years after traders had hoped for more stimulus measures, and officials failed to announce any major new steps.

The Shanghai Composite ( 000001.SS ) dropped 6% despite making gains a day earlier following a week-long break, while the Shenzhen Composite ( 399001.SZ ) on China’s second exchange tumbled 8.1%.

China’s finance ministry is due to set out its plans on fiscal stimulus in more detail at a news conference on Saturday.

Yeap Jun Rong of IG said: “A lack of new stimulus has been the cause of disappointment, with many market participants hoping that its fiscal policies will follow in the footstep of the financial ‘bazooka’ delivered in late-September, but there was clearly a step-down in yesterday’s announcement.”

Follow along for live updates throughout the day:

Apple and Android .