FTSE

Global gloom drags FTSE 100 down

A worldwide share plunge saw the FTSE 100 Index fall more than 100 points today as a run of pessimism on the markets pulled leading stocks further down from near-record heights seen just a few weeks ago.

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European leaders and bankers prepare for Greece default as government

Financial markets were plunged into fresh turmoil after Greece's political parties failed once again to agree to form a unity government, and European policymakers warned that Greece's aid payments would be cut off unless Athens quickly produced an administration prepared to deliver far-reaching economic reforms and budget cuts.