FTSE plunges to four-year low

More than £93bn (€119.8bn) was wiped from the value of the UK's biggest companies today as London's FTSE 100 suffered its biggest fall since Black Monday.

As fear swept through global markets and governments rushed to prop up banks across Europe the Footsie slumped 7.8% - its largest one-day percentage decline since the aftermath of Black Monday in October 1987.