FTSE drops 3%

The FTSE 100 Index fell almost 3% today after investors were spooked by a sudden spike in oil prices and fears over inflation in the UK and US.

FTSE drops 3%
Thu, 26 Jun, 2008 - 18:55

The FTSE 100 Index fell almost 3% today after investors were spooked by a sudden spike in oil prices and fears over inflation in the UK and US.

Comments from cartel Opec that oil could reach USD$170 a barrel this summer combined with fresh concerns over inflation from the Bank of England and the US Federal Reserve in a miserable session for blue-chips.

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CourtsBusinessHeathrowPlace: UKPlace: USPlace: LondonOrganisation: FTSEOrganisation: Cartel OpecOrganisation: Bank of EnglandOrganisation: US Federal ReserveOrganisation: General MotorsOrganisation: CitigroupOrganisation: FortisOrganisation: BarclaysOrganisation: Halifax Bank of ScotlandOrganisation: Lloyds TSBOrganisation: Royal Bank of ScotlandOrganisation: BradfordOrganisation: BingleyOrganisation: Association of British InsurersOrganisation: NextOrganisation: Carphone WarehouseOrganisation: British Sky BroadcastingOrganisation: London Stock ExchangeOrganisation: Lehman BrothersOrganisation: CarnivalOrganisation: Royal Dutch ShellOrganisation: BPOrganisation: ShellOrganisation: FootsieOrganisation: LonminOrganisation: Cairn EnergyOrganisation: InvensysOrganisation: ITV
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