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Financial Crisis: FTSE Dives 10%

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.

  • A d v e r t i s e m e n t

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]