Newspaper article The Evening Standard (London, England)

Investors Nervy amid Meltdown Fears

Newspaper article The Evening Standard (London, England)

Investors Nervy amid Meltdown Fears

Article excerpt

Byline: SIMON ENGLISH

INVESTORS braced themselves for another rocky day on world stock markets today as the FTSE index of Britain's leading shares opened sharply lower.

Global authorities were nervously eyeing markets after a tumultuous day yesterday that saw panic selling in China spread across the Far East, to London and on to New York, where the Dow endured its worst day since the 2001 terrorist attacks.

The Footsie plunged almost 100 points as London trading got under way today, sparking fears that a meltdown - rather than the correction most analysts were expecting - could be on the way.

There were signs of recovery shortly after the opening trades, with the FTSE down 55.2 points at 6230.9. Its 1.5% fall was mirrored by a 2% dip in Germany's Dax and 2.2% loss in France's CAC 40.

Before the market opened, Cantor Index was predicting more bad news for investors.

The spread betting firm's David Buik said: "A 2.3% fall in the FTSE is not a correction, it is an apology. …

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