Posted on 10/10/2008 6:02:05 AM PDT by TigerLikesRooster
FTSE 100 heads for worst week
The FTSE 100 is heading for its worst week as mounting fears of global recession led to a flood of selling by investors worldwide.
By Graham Ruddick
Last Updated: 1:28PM BST 10 Oct 2008
The FTSE 100 plunged more than 10pc this morning after dramatic overnight falls in stock markets around the world.
By lunchtime the index of leading UK shares was trading down 300 points at 4007.74, after plunging 10pc in the first hour of trading to fall below 4,000 points for the first time in five years following steep declines overnight in Asia and the US.
If it closes at this level it will be down 970 points on the week - the biggest weekly fall ever, overshadowing the week of Black Monday when it fell 506.7 points. However, in percentage terms the 19.5pc fall would be the second biggest fall. During Black Monday week it fell 28.3pc.
Little respite is expected for investors as US markets open are expected to open down sharply.
(Excerpt) Read more at telegraph.co.uk ...
Ping!
things are not...
good
things are.... unknown things????
I would like to know, who is selling and who is buying?
My funds must be buying, as I am still putting money in.
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