The FTSE 100 took another battering today dropping 3% in early morning trading and slipping below 5,000 points, after a disastrous day which saw £62bn wiped off the value of leading shares.The tumbling figures were mirrored by European markets, with Paris, Frankfurt, Madrid and Milan stock markets, also falling in early trading.
Trading in the U.S. fell, which was later mirrored by markets in the Far East.
The latest downturn for world markets followed a gloomy report from economists at investment bank Morgan Stanley, which slashed its forecasts for global growth.
But eurozone debt fears, poor economic data in the US, and fears over China raising interest rates and limiting its demand, all played their part in Thursday's rout.
Banking stocks were again the major casualties as the FTSE 100 Index slipped down again to below the 5,000 barrier, tumbling to 4,935 points.
The volatile FTSE opened at 5,083 and after fluctuating, sank to 4,935 points. Read More
Trading in the U.S. fell, which was later mirrored by markets in the Far East.
The latest downturn for world markets followed a gloomy report from economists at investment bank Morgan Stanley, which slashed its forecasts for global growth.
But eurozone debt fears, poor economic data in the US, and fears over China raising interest rates and limiting its demand, all played their part in Thursday's rout.
Banking stocks were again the major casualties as the FTSE 100 Index slipped down again to below the 5,000 barrier, tumbling to 4,935 points.
The volatile FTSE opened at 5,083 and after fluctuating, sank to 4,935 points. Read More
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