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Article: London stock market crashes to six year low
- Article from:
- Xinhua News Agency
- Article date:
- July 22, 2002
CopyrightCopyright 2002 Xinhua News Agency. Provided by ProQuest LLC. (Hide copyright information)
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London stock market crashes to six year low
LONDON, July 22 (Xinhua) -- The battered London stock market
closed at its lowest level for nearly six years on Monday after
investors took fright at telecom giant WorldCom's bankruptcy and the
worries about the health of insurance companies.
More than 48 billion pounds was wiped off the value of Britain' s
blue chip shares. The FTSE-100 index shed 202.80 points, or 4.95
percent, to close at 3,895.50 as selling continued. It is the lowest
close since September 6, 1996.
Markets elsewhere in the world plunged deep into the red too,
with Frankfurt and Paris both ending near record lows. The CAC 40
index in Paris dropped 5.25 percent to ...