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Global Markets Tumble Amid Economic Fears

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Sky News
Aug 5, 2011

Markets around the world have fallen further as London’s leading shares index suffered more heavy losses this morning.

The FTSE 100 opened at more than 2.5% down, and markets in Paris, Frankfurt, Milan and Madrid also sustained sharp falls in early trading.

It follows a week of plunging share prices amid investor panic that Italy and Spain, the eurozone’s third and fourth largest economies, may need bailouts and widespread worries over the US economy.

Earlier the Dow Jones Industrial Average closed down more than 4% and Asian markets suffered similar losses.

FTSE 100 1-Week Chart

Almost £50bn was wiped off the value of the FTSE 100 on Thursday, with the listing for the UK’s top 100 companies closing at 5393, down 191 points or 3.43%, taking nearly £50bn from its value.

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This article was posted: Friday, August 5, 2011 at 3:35 am

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