'Tsunami of bad news' hits UK market

A “tsunami of bad news” hit world markets today as fears over the viability of the eurozone rescue package and the health of the financial sector caused traders to sell shares.

'Tsunami of bad news' hits UK market
Mon, 31 Oct, 2011 - 17:03

A “tsunami of bad news” hit world markets today as fears over the viability of the eurozone rescue package and the health of the financial sector caused traders to sell shares.

The FTSE 100 Index in London fell 2.8%, or 158 points at 5544.2, with taxpayer-backed lenders Royal Bank of Scotland and Lloyds among the biggest fallers.

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