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FTSE Plunges As Fear Grips Markets

Posted By admin On October 16, 2008 @ 4:00 am In Money Watch | Comments Disabled

Sky News [1]
Thursday, Oct 16, 2008

The FTSE 100 dropped more than 5% in early trading today as fears of a global recession spread through the world’s stock markets.

The top companies’ index fell 211.6 points to 3868 – its lowest point for more than five years after Wednesday’s 7% loss.

Earlier the Japanese stock market suffered its biggest losses in two decades.

(Article continues below)

Tokyo’s Nikkei plunged 11.41% by the close or trading, wiping out most of its gains earlier in the week.

It was its steepest fall since the “Black Monday” crash in October 1987 and the second biggest percentage drop in the index’s history.

Hong Kong’s Hang Seng slumped 7.6% in overnight trading and there were similar falls in Singapore, Seoul and Australia.

They came after Wall Street suffered its worst percentage drop in two decades and its second-largest points loss ever.

The Dow Jones sank 7.87% on Wednesday after official figures showed US retail sales were down 1.2% in September.

Full article here [1]


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URLs in this post:

[1] Sky News: http://uk.news.yahoo.com/5/20081016/twl-ftse-plunges-as-fear-grips-markets-3fd0ae9.html

[2] 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

[3] ANOTHER Black Monday: FTSE plunges 5% after Asian stocks post record falls: http://www.prisonplanet.com/another-black-monday-ftse-plunges-5-after-asian-stocks-post-record-falls.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] Japan’s Nikkei plunges 11 percent on radiation fears, sending global markets into a tailspin: http://www.prisonplanet.com/japan%e2%80%99s-nikkei-plunges-11-percent-on-radiation-fears-sending-global-markets-into-a-tailspin.html

[6] Financial Crisis: FTSE Dives 10%: http://www.prisonplanet.com/financial-crisis-ftse-dives-10.html

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