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Sensex sinks; Japanese markets at 20-year low
October 8, 2008

Europe sinks

European markets were no better.The FTSE 100 Index slumped almost 8% in its biggest one day points fall on Tuesday.

As the global banking crisis intensified and caused misery around the world, London's blue-chip index fell 391.1 points to 4589.2 on Tuesday, with banks and mining stocks hammered by the seemingly relentless economic woes.

It is the top flight's lowest closing mark since October 2004. The plunge came amid fears for the global economy and mounting concerns the US-born banking crisis is spreading worldwide.

The weekend saw one of Germany's biggest mortgage lenders propped up by the government after another rescue attempt fell apart.

There were no risers for London's Footsie, with just Johnston Press finding positive territory in the FTSE 250 Index.

Image: People walk past an electronic sign showing the progress of the FTSE 100 share index in London. The London stock market nosedived 8.65 per cent on Monday. | Photograph: Carl De Souza/AFP/Getty Images

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