Here we go Again The world is catching emerging markets flu’: UK and US shares take a hit as plunging currencies worry global investors

Saturday, January 25, 2014
By Paul Martin
January 25, 2014

FTSE 100 falls 1.6% to five-week low and US shares down 2%

European shares suffer biggest fall in seven months as fears over Argentinian peso crisis grow

Political instability in Ukraine and Turkey add to investors’ worries over cuts to quantitative easing

Shares around the world were hit yesterday as concerns over emerging markets saw global investors sell stocks and dive into safe-haven assets. The London market sank to a five-week low, with the FTSE 100 falling 1.6 per cent as Latin American currencies like the Argentinian peso suffered massive falls. The blue-chip index lost 109.54 points to 6,663.74 – its lowest close since December 20 – and was followed by falls on Wall Street, where the S&P 500 stock index tumbled 2.0 per cent. The Dow Jones industrial average also lost 2 per cent.

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