Just another manic Monday for Shareholders

Just another manic Monday for Shareholders


Yesterday, in the wake of global uncertainty about the ways in which governments are intending to tackle the credit crisis, Britain’s share index suffered it’s largest decline in history. At the close of business the FTSE 100 had dropped by 391 points, a decrease of 7.8% and a loss of nearly £100 billion from the value of the 100 most prominent companies in the city. 

In yet another manic Monday for anguished shareholders, very few countries remained unaffected by the massive share slump. In the US, the Dow Jones closed at it’s lowest for four years (below 10,000); Russia and Iceland suspended trading in bank shares; but worst hit were Ireland and France, losing a whopping 9% off share values.


It is believed that the crash was down to confusion over a series of discrepancies across the Continent, relating to deposit guarantees, and proposed bailout packages.


The situation was not helped by Alistair Darling’s vague promises to ‘do whatever it takes’ to stabilise the economy. Unless the Government start giving some real answers soon, it would seem that it’ll take more than big talk to bring back confidence in the financial market.


By Danielle Williams

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