FTSE recovers after plunging through 5000 barrier

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The Independent Online

Share prices plummeted in London today, sending the FTSE-100 index below 5000 for the first time since October 1998, in a day of stock market nervousness around the world.

Share prices plummeted in London today, sending the FTSE-100 index below 5000 for the first time since October 1998, in a day of stock market nervousness around the world.

The index bounced back from more than 170 points down at lunchtime and rose back through 5,000 during the afternoon.

Wall Street steadied this afternoon after losing 80 points in early trading. The FTSE bounced back after watching New York take the worldwide falls in its stride.

Markets in Japan fared worse. Shares started the week by falling to a 17-year low; the Nikkei 225 fell 321.1 to 10,196 - a slump of nearly three per cent. Share trading in Germany and France also showed major falls.

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