Stock market rout as blue chips lose £60bn

Nearly £60 billion was wiped off the value of Britain’s blue-chip companies yesterday after mounting fears of a global credit crunch sent shares plunging as world stock markets endured a deepening rout.

The FTSE 100 index of London’s leading shares slumped by more than 4 per cent, suffering its steepest one-day percentage loss for nearly 4½ years, as it shed more than 250 points in frenzied dealing.

In points terms, the drop in the blue-chip benchmark was its fourth-biggest ever, and eclipsed even that suffered on Black Monday in 1987.

Stock market rout as blue chips lose £60bn – Times Online

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