FTSE falls 7.8 per cent to four-year low

  • Story by: Gemma Westacott
  • Magazine: FTAdviser
  • Published Monday , October 06, 2008

The FTSE 100 index slumped 7.8 per cent today to reach 4,589.19 at the close of trading, without a single blue chip stock ending in positive territory.

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Overall the index ended the day down 391.06 points - its worst one-day point drop on record.

At one point, it had also dropped almost 9 per cent - its worst one-day percentage drop since Black Monday in 1987.

The overall decline of 7.8 per cent at the end of trading did, however, see the index drop back to levels not seen for over four years.

Banks were among the biggest fallers, with Barclays down 54.00p to 314.00p, HBoS down 39.70p to 160.80p, and Royal Bank of Scotland down 38.10p to 148.25p.

Prudential also dropped 69.00p to 429.00p, while Standard Chartered fell 136.00p to 1262.00p

Meanwhile, at UK closing, the Dow Jones was 3.8 per cent lower at 9,932 points.

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