FTSE 100 dives 10pc as global markets slide

The FTSE 100 plunged more than 10pc after dramatic overnight falls in stock markets around the world. The UK's leading share index fell more than 440 points as fears of a global recession gripped investors. The FTSE 100 dropped below 4,000 after huge overnight falls in Asia. Share is Europe also tumbled with the CAC in France and the DAX in Germany both down more than 10pc. Russia's financial regulator has ordered the country's two main stock markets to remain closed after the sharp falls in Asia, which saw the Nikkei in Japan closing down 9.62pc, its third biggest loss ever, and the Hang Seng in Hong Kong down more than 7pc. "This is panic. New York, the currencies – there's nothing left for us to trust," said Takashi Ushio, head of investment strategy at Marusan Securities. The global economic crisis yesterday claimed its... [read full story]