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Markets continue plunge at 3pm

The FTSE100 has continued its steep descent losing 7.33 per cent since today’s opening.

The panic selling, mirrored on stock exchanges round the world, means that the FTSE100 has lost nearly 900 points since last week’s atrocity in America.

Plan Invest joint managing director Mike Owen says: "All of us expected a sharp fall on Wall Street when it reopened. I think all the bad news is being thrown at the market now, but I hope there will soon be scope for a rally. This is an irrational phase — it is very difficult for investors to hold their nerve when everyone else is panicking but it is still the best policy.

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