FTSE down 10 per cent in early trading

Oct 10 2008

Panic spread across world markets today as the FTSE 100 Index crashed 10% on fears of a global recession.

More than 400 points was wiped off the FTSE 100 Index in devastating early session trading, taking the Footsie below the 4000 level.

The falls follow similarly dramatic overnight losses on Wall Street and in Asia.

Japan’s benchmark Nikkei 225 index closed almost 10% lower, down 881 points lower in its worst session since Black Monday in 1987, while the Dow Jones Industrial Average closed below 9000 for the first time since 2003.