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Financial Crisis: FTSE Dives 10%

Posted By admin On October 10, 2008 @ 4:08 am In Featured Stories | Comments Disabled

Sky News [1]
Friday, October 10, 2008

The FTSE fell more than 10% in the first hour of trading today as meltdown hit the world markets.

More than 400 points were wiped off the FTSE 100 Index in early trading – taking it below 4,000 points for the first time in five years.

It has since recovered slightly to around a 5% fall.

In Austria, the Vienna stock exchange suspended trading this morning after several shares plunged more than 10%.

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In Hong Kong, shares closed down 7.2%, hitting a three-year low.

Analysts believe global recession could be inevitable as the fall is affecting all sectors of the stock market.

Banking stocks are among the worst hit, as the Government’s bail-out package has failed to reassure panicked investors.

Full article here [1]

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URLs in this post:

[1] Sky News : http://uk.news.yahoo.com/skynews/20081010/tuk-financial-crisis-ftse-dives10-45dbed5.html

[2] FTSE Plunges As Fear Grips Markets: http://www.prisonplanet.com/ftse-plunges-as-fear-grips-markets.html

[3] Black Tuesday as FTSE plummets, bank shares tumble and Britain faces recession ‘within months’: http://www.prisonplanet.com/black-tuesday-as-ftse-plummets-bank-shares-tumble-and-britain-faces-recession-within-months.html

[4] FTSE plunges despite Darling’s desperate £500bn semi-nationalisation of Britain’s banks: http://www.prisonplanet.com/ftse-plunges-despite-darlings-desperate-500bn-semi-nationalisation-of-britains-banks.html

[5] FTSE 100 plunges amid Eurozone fears and unrest in Egypt as oil prices rise to year-long high: http://www.prisonplanet.com/ftse-100-plunges-amid-eurozone-fears-and-unrest-in-egypt-as-oil-prices-rise-to-year-long-high.html

[6] Inflation rises to 4.7% and FTSE plunges ANOTHER 90 points as global markets tumble in wake of Meltdown Monday: http://www.prisonplanet.com/inflation-rises-to-47-and-ftse-plunges-another-90-points-as-global-markets-tumble-in-wake-of-meltdown-monday.html

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