FRANKFURT, Oct 8 (Reuters) - European shares resumed their fall on Wednesday afternoon, tracking sliding U.S. futures, as euphoria over a coordinated rate cut by the world’s top central banks dissipated.

At 1259 GMT, the FTSEurofirst 300 .FTEU3 index of top European shares was down 3.9 percent at 964.08 points, having pared losses back to 0.2 percent following the coordinated rate cuts.

S&P 500 futures SPc1 were down 1.6 percent, the Dow Jones industrial average futures DJc1 fell 1.5 percent and Nasdaq 100 NDc1 futures were 1.8 percent lower.

The U.S. Federal Reserve led a round of cuts and eased by half a point, as did the European Central Bank, Bank of England and Swiss, Canadian and Swedish banks. (Reporting by Sarah Marsh)