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LONDON - Britain's leading shares fell 5.48 per cent, suffering its largest one-day loss since September 11 2001, as the index tracked global markets lower on deepening fears of a possible US recession.
The FTSE 100 closed down 323.5 points at 5,578.2, its lowest close since June 2006 and wiping nearly 77 billion pounds from the value of its constituent stocks.
EUROPE - European shares fell nearly 6 per cent, their biggest one-day slide since the Sept. 11, 2001 attacks, as fears of a US recession and more write downs in the financial sector sparked a broad-based selloff.
"This is like a panic. It's like out, out, out (of stocks). Run for cover," said Dirk Mueller, a trader at Frankfurt brokerage ICF. "There is a very ugly sense of capitulation and the worst thing is that we can't see where it will all end," said Javier Galan, fund manager at Spanish brokerage Renta 4.
The FTSEurofirst index of top European shares closed down 5.8 per cent at 1,279.85 points, having earlier hit an 18-month low of 1,278.79. Monday's fall was the index's 11th drop in 14 sessions for a total loss of 15 per cent in 2008.
FRANKFURT - The DAX index ended at 6,790.19 points, down 523.98 or 7.16 per cent.
PARIS - The CAC-40 index closed at 4,744.45 points, down 347.95 or 6.83 per cent.
ZURICH - The Swiss market index closed at 7,287.14 points,down 404.84 or 5.26 per cent.
MILAN - The All Share Mibtel index closed at 25,606 points,down 1304 or 4.85 per cent.
TOKYO - Japan's Nikkei tumbled nearly four per cent to its lowest close since Oct 2005, battered as banks fell and investors dumped blue chip shares on disappointment with a US stimulus proposal.
The Nikkei closed down 3.86 per cent or 535.35 points at 13,325.94, its lowest close since Oct. 25, 2005. It has lost nearly 13 per cent this year alone.
HONG KONG - Blue chips skidded 5.49 per cent in their worst day since September 2001 as a US economic stimulus package failed to calm investor fears about a possible recession in the world's biggest economy. The Hang Seng Index closed down 1,383.01 points to end at 23,818.86, the lowest close in the year.
SYDNEY - The share market fell nearly 3 per cent, extending its longest losing streak in a quarter of a century, on renewed US recession fears and concern over the health of global financial markets. The S&P/ASX 200 index closed down 2.9 per cent, or 166.9 points, to close at 5,580.4, its 11th straight decline and lowest close since Jan. 12, 2007.
JOHANNESBURG - A global market sell-off sent South Africa's Top-40 to its biggest daily loss in 7 months, while government bonds fell sharply and the rand hit a fresh 4-month low. The All-share index closed at 25,423.69 points, down 1228.97 or 4.61 per cent. The All Gold index closed at 2,417.35 points, down 144.59 or 5.64 per cent, while the Industrial index closed at 17,633.68 points, down 587.65 or 3.23 per cent.
- REUTERS
