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FTSE breaches 3,500

The FTSE 100 has fallen below 3,500 today with banking shares continuing to bare the brunt of the losses.

At 13.21pm the blue-chip index stood at 3480.54, a fall of 1.42 per cent, a new low since the onset of the credit crunch.

Barclays was the biggest faller, losing 12.65 per cent of its share price. With Lloyds Banking Group and HSBC Holdings also among the top five fallers.

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