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FTSE 100 slumps toward 4,000

The FTSE 100 has shed over 7 per cent of its value today as investors remained nervous that government action would not prevent a prolonged economic downturn.

As of 17:00, the FTSE 100 was down 7.08 per cent to 4083.04, wiping off some of the huge gains made on Monday and Tuesday following the announcement of the £37bn bail-out of the banking system in the UK.

The concerns were reflected across global markets with the Dow Jones falling 3.46 per cent and Germany’s Dax and France’s Cac 40 falling 6.49 and 6.82 per cent respectively.

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