The UK's top shares and other leading global stock markets have plummeted following the U.S.'s announcement of a £250billion rescue operation to prop up its feeble economy.
The FTSE 100 was 4 per cent lower at 5079, a drop of 209 points, in morning trading. Germany's DAX and France's CAC 40 also plunged by nearly 4 per cent.
The Dow Jones on Wall Street ended down 2.5 per cent last night, while Asian markets took a battering following fresh evidence of a slowdown in China as well as gloom over the American economy.
Taking stock: A Barclays Capital trader holds his head while working on the trading floor at the New York Stock Exchange, which has seen huge amounts wiped off the value of firms
The huge threat facing the British and global financial system was laid bare last night as the U.S. took unprecedented emergency steps to aid the world’s largest economy.
Frightening evidence that the crisis in euroland is spinning out of control also emerged as the International Monetary Fund revealed that a £263billion black hole has opened up in its banks.
Read more: http://www.thisismoney.co.uk/money/news/article-2040413/FTSE-100-plunges-nearly-4-US-emergency-stimulus-alarms-global-markets.html#ixzz1Yg2kAHwT
No comments:
Post a Comment