March 3, 2009
FTSE at six year low
Story link: FTSE at six year low
If any financial market was likely to feel the strain more than the rest, it was going to be the FTSE 100.
The FTSE 100 has now posted its lowest low, in the last six years, which shows just how far, and bad, the current worldwide financial system has spirally out of control.
The FTSE 100 Index sank to a six-year low today after HSBC’s £12.5 billion fundraising plea dealt a fresh blow to the battered confidence of the banking sector.
With market heavyweight HSBC down 9% and Royal Bank of Scotland off 15%, London’s top flight index fell by more than 3% to stand below the 3700 mark for the first time since April 2003.