FTSE slumps by 2%

The FTSE 100 Index shed more than 2% today as cautious economic forecasts from the Bank of England dealt a blow to market sentiment.

FTSE slumps by 2%
Wed, 13 May, 2009 - 18:07

The FTSE 100 Index shed more than 2% today as cautious economic forecasts from the Bank of England dealt a blow to market sentiment.

The benchmark index lost 94.2 points to 4331.4 after the Bank said a slower than expected resumption of bank lending could hamper a UK recovery.

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