As traders panic sold stocks, Britain’s top market tumbled by more than nine per cent instantly slicing billions off its value.
The market fell from yesterday’s close of 6,338 losing more than 500 points to reach lows of 5788.
However, as the morning wore on the FTSE 100 recouped some of its losses to break back above the 6,000 mark or down by around -4.3 per cent.
Europe’s top stock markets were also nursing heavy losses with Germany’s Dax down by more than six per cent, France’s CAC down by seven per cent and Spain’s IBEX was down by a massive 10 per cent.
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