FTSE 100 slumps 4.64% at close as US markets continue to fall
Share
The FTSE 100 closed down 4.64 per cent today and US stock markets fell in morning trades following news of the US Federal Reserve’s economic stimulus.
The Dow Jones Industrial Index was down 3.34 per cent to 10,754 by 11.40am while the S&P 500 was down 3 per cent to 1,131.
The stimulus plan, called operation Twist, will see the Fed sell about £260bn worth of bonds maturing within three years and buy longer-term debt. The aim is to put money into the economy but keep interest rates low.
If you enjoyed this article, sign up here to receive daily email updates from Money Marketing and Follow @_moneymarketing
Readers' comments (2)
Anonymous | 22 Sep 2011 9:42 am
I love it when so called professional investors panic. They really seem to have a knack of buying at the top and selling at the bottom.
I sold out my SIPP at 5900 and can't wait to buy all those lovely shares again at knocked down prices.
Come boys keep selling taking the FTSE back down to 3900 will do just fine, I can't wait.
Unsuitable or offensive? Report this comment
gaazza | 22 Sep 2011 2:04 pm
If the FTSE drops to 3900, as the previous commentator states, then what an opportunity! Not convinced it will drop that low, though. The 'computers' sell and buy at predetermined trigger levels which will probably be kicking in anytime soon (to buy).
Unsuitable or offensive? Report this comment