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B&B troubles sees FTSE 100 crash below 5,000

The FTSE 100 sailed below 5,000 this morning as the nationalisation of Bradford & Bingley continued to hit confidence in the banking sector.

At 9.32am, the index plummeted by 2.64 per cent to 4953.96, with the banking sector dominating the biggest fallers.

Royal Bank of Scotland shares fell by 11.76 per cent to 186.9p, while HBOS and Lloyds TSB Group fell 8.11 and 6.37 per cent respectively.

ICAP was the biggest faller with an 11.76 per cent loss.

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