£63bn wiped off UK shares as fears of a recession grow

Shares were in freefall across the world yesterday, wiping hundreds of billions of dollars off pension funds and investor portfolios.

In London, the FTSE 100 index suffered its biggest losses since the year 2000, shedding £63billion as it finished 232.9 points lower at 6038.3.

It was the second day of a wave of panic-selling provoked by fears that banks are sitting on huge losses incurred from the U.S. property market.

£63bn wiped off UK shares as fears of a recession grow | News | This is London


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