Shares tumble in wake of US sell-off

12 April 2012

The City suffered further turmoil today as the bluechip FT- SE 100 Index slumped nearly 100 points in the first minutes of trading.

A hefty slide on Wall Street last night sparked the sell-off in London shares.

Yesterday the US Dow Jones slid 3.2 per cent to 8,043, while the tech-dominated Nasdaq fell to 1,206, its lowest close since 1997.

Far East markets were also weak, with Japan's Nikkei and Hong Kong's Hang Seng closing sharply lower. The volatility put further pressure on the London market, which slid 95.7 points to 3900.7. The falls come on top of a dismal day yesterday, after poor US trading and news of a shocking decline in Britain's manufacturing sector.

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