Markets lose £67bn in one day
Around £67 billion has been wiped from the value of the FTSE 100 Index as
the City reacted to the terrorist attacks in America.
The Footsie suffered its biggest one-day percentage fall since 1987, closing
down 287.7 points at 4746.0, as panicked City dealers sold shares in droves.
Trading continued via computer screens despite the London Stock Exchange
being evacuated and exchanges on Wall Street remaining closed.
The closing price represents a 5.7% fall during the day and means the index
is now at its lowest since October 1998.
British Airways, which has cancelled all of its remaining flights to the US
for the day, was the heaviest faller on the London market, down 21%, or 56p,
at 208p, while airports operator BAA also lost 16%, or 101½p, at 516½p.
The prospect of higher oil prices pushed BP higher, up 27½p at 588½p, and
Shell 11½p stronger at 543p.
Prior to the attacks, London shares had been in upbeat mood, surging past
the 5,100 barrier and rebounding from Monday's slump as bargain hunters
moved in to snap up stocks.
Telecoms and techs initially pushed the market higher as sentiment improved
during the morning.
But events in the US had a devastating impact on the market in the
afternoon.
The French stock market index has registered the largest drop in its history.
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