FTSE down 2% as bull market runs out of steam

The FTSE 100 Index dived by more than 2% today as world markets extended heavy losses seen before the weekend.

The latest slump saw the Footsie fall by 152 points to 5759.8 in the first hour of business, amid signs the bull market that has seen shares rise in value by a third over the past two years has run out of steam.