FTSE slips amid eurozone fears

The London stock market continued to slide today as traders digested emerging details of a multitrillion-euro eurozone rescue plan.

The FTSE 100 Index was nearly 2% lower as crisis talks between world finance leaders in Washington over the weekend failed to inspire traders.

Emergency measures to rescue the euro, costing two to three trillion euros, and potentially allowing an orderly debt default in Greece, could be revealed in a matter of days.

But Cameron Peacock, market analyst at IG Markets, said: “The key demand from investors is for action as opposed to words.”

Britain’s top 100 companies saw £78bn (€89bn) wiped from their value last week as the sovereign debt crisis and America’s creaking public finances fuelled fears of another global recession.