http://www.thesun.co.uk/sol/ho...oney/article709921.ece
THE London stockmarket was in freefall today plumetting 5.5 per cent - the biggest fall since 9/11 terror attacks.
The FTSE 100 Index tumbled almost six per cent at one point - a fall not seen since the 9/11 terror attacks in 2001 - as fears over the health of the world's biggest economy swept through markets across the globe.
Although traders' nerves steadied later to recoup the worst of the losses, the Footsie was still down by more than three per cent, or 186.2 points, to 5715.5 by mid session.
The fall came as Asian markets tumbled overnight following losses for the Dow Jones Industrial Average on Friday, when investors were left unimpressed by the US Government's tax-relief plans to spur on the economy.
Heavily-weighted banking and mining stocks dragged the Footsie lower as concerns over a slowdown gathered pace. HSBC and Royal Bank of Scotland - both with heavy exposure to the US economy - each saw shares lose four per cent, falling 30.5p to 730p and 13.75p to 359.25p respectively.
Strangely I thought the international markets would fair ok, I was moving my money to international funds to stem this thing. Needless to say I'm going to move to CD's or guaranteed income. Yikes the international markets reacted this way, how is our market going to react tomorrow?
THE London stockmarket was in freefall today plumetting 5.5 per cent - the biggest fall since 9/11 terror attacks.
The FTSE 100 Index tumbled almost six per cent at one point - a fall not seen since the 9/11 terror attacks in 2001 - as fears over the health of the world's biggest economy swept through markets across the globe.
Although traders' nerves steadied later to recoup the worst of the losses, the Footsie was still down by more than three per cent, or 186.2 points, to 5715.5 by mid session.
The fall came as Asian markets tumbled overnight following losses for the Dow Jones Industrial Average on Friday, when investors were left unimpressed by the US Government's tax-relief plans to spur on the economy.
Heavily-weighted banking and mining stocks dragged the Footsie lower as concerns over a slowdown gathered pace. HSBC and Royal Bank of Scotland - both with heavy exposure to the US economy - each saw shares lose four per cent, falling 30.5p to 730p and 13.75p to 359.25p respectively.
Strangely I thought the international markets would fair ok, I was moving my money to international funds to stem this thing. Needless to say I'm going to move to CD's or guaranteed income. Yikes the international markets reacted this way, how is our market going to react tomorrow?
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