ISEQ tumbles 7% as fears over world finances grow

A half-point cut in interest rates by the world's central banks failed to halt a slide on the ISEQ index of Irish shares this evening; the index fell 7% to 3,054.39 points by market close.

Shares had plummeted in all the financial heavyweights by the end of trading this evening with AIB leading the way, down 16% (90c) to €4.65.