Another £28bn wiped off value of blue-chip index

LONDON’S FTSE 100 Index hit a new six-year low yesterday as stock markets around the world stumbled once more during a depressing start to the week.

Another £28 billion was wiped from the value of the struggling blue-chip index, sending the Footsie down 3% or 120.7 points to 3739.4.

The index is now below July’s previous six-year closing low of 3777.1 and five points from the 3734.4 seen on August 1, 1996.