STOCK MARKET CRASH: FTSE loses £85BILLION in two weeks amid huge fears for UK economy
BRITAIN’S leading stock market has nose-dived to the lowest level in more than a month as clouds over the economy grow darker.
By LANA CLEMENTS
Express.co.uk
Fri, May 6, 2016
The FTSE 100 has now shed around £85billion in little more than two weeks after the index hit a 2016 high.
The stock market reached 6410 on April 20 but since is down more than 4.5 per cent at 6,080 and looks dangerously close to dipping past the 6,000 mark.
It comes after growth in the UK economy was confirmed to have slowed to 0.4 per cent in the first quarter of 2016, and the latest figures suggest the rate could be even worse for the second quarter.
Expert said the disappointing figures have prompted investors to dump stocks amid concerns the central bank policies of low interest rates and cheap money are no longer stimulating growth.
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