FTSE braced for another day of turmoil as world's markets plunge overnight

London was braced for another day of turmoil on the stockmarket today after Asian markets plunged amid fears of a global recession. After the pound suffered its biggest dive for 16 years and shares lost £4billion in London, trading continued to suffer in Asia and New York. Japan's Nikkei index fell by as much as 7.59% at one point before rallying to close 2.46% down while in New York the Dow Jones closed down 5.69%.

The bloodbath on the world's markets came as Gordon Brown conceded for the first time that Britain is entering recession - wrecking his claims to have abolished 'boom and bust'. Gordon Brown address MPs at the House of Commons where he used the word 'recession' to describe the.... Thu Oct 2008 10:10 (2 months, 2 weeks ago)
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