Global markets in fresh plunge
Friday 24th October 2008, 4:42PM BST.
Stock markets around the world continued to suffer today, as financial turmoil forced consistent losses exceeding four per cent.
The FTSE 100 dropped steadily in the first two hours of trading to around the 3,800-point level by 10:00 BST.
It was down 6.83 per cent shortly before closing, following confirmation the UK economy suffered a 0.5 per cent contraction in its third quarter.
Other European indices suffered similar slips. The Dax was down 7.41 per cent while the Cac 40 slipped 6.43 per cent.
US markets also saw losses. The Dow Jones fell to around 8,300 points, or 4.55 per cent, with the Nasdaq seeing a similar slip to 1,530 points.
It follows a disastrous day for Asian markets. Tokyo was down 9.6 per cent, Hong Kong 8.3 per cent and Seoul an enormous 10.6 per cent.
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