Iseq crashes by 119 points

The Iseq index of shares has had a torrid morning after it fell 119.14 points to 9,844.30 by 11.30am.

The financials led the slump with Irish Life and Permanent crashing by 66c to €19.99 and AIB collapsing by 40c to €22.14. Anglo Irish Bank had a modest three-cent fall to €17.50 while Bank of Ireland was down only four cents to €15.92.