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London stock market tumbles more than 5.0pc

LONDON : London's main stock index slumped by more than 5.0 percent on Thursday, mirroring a rout across global indices
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By Imad Uddin
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LONDON: London's main stock index slumped by more than 5.0 percent on Thursday, mirroring a rout across global indices on mounting fears that the world economy was heading for a new recession.

The FTSE 100 index of leading shares sank 5.03 percent to stand at 5,022.05 points, before clawing back some ground. It later stood at 5,035.51 points, down 4.78 percent from Wednesday's closing level.

World stock markets nosedived on Thursday, one day after the US Federal Reserve warned of serious downside risks to the world's biggest economy.

 

Copyright AFP (Agence France-Presse), 2011

 

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