FTSE Biggest Fall Since '87 Crash

Global Banking Problems Videos The FTSE 100 index of leading UK shares has suffered its biggest one-day fall since the 1987 crash amid the deepening global financial crisis. Big share falls on both sides of the Atlantic At one stage, the FTSE dropped nearly 9%. It closed down 391.1 points, or 7.85%, at 4589.2, wiping more than £93bn off the value of top firms. Gordon Brown has warned that the Government is ready to take action to prevent "irresponsible risk-taking" by banks and other financial institutions. He added: "Where there has been irresponsibility we must now have instead transparency, integrity, responsibility, good housekeeping and international co-operation as the vital foundation stones of our financial system and the international financial system." Germany's DAX was down 7.1% and France's CAC-40 closed 9% lower.... [read full story]