Tuesday 16, September 2008 by Mike Gallagher
Are financial stocks toxic?
Stockmarkets the world over fell as the contagion from the collapse of Lehman and worries about the state of AIG sent traders into a frenzy of selling. In London traders on the FTSE dumped stock and sent the market down by over 4 per cent to a three year low, while the Dax and the Cac 40 in France fell by around 2.5 per cent. The Dow Jones fell to 10.800, off by over 1 per cent, while the Nasdaq and S&P declined by 1.24 and 1.34 per cent respectively. The UK was hit by more bad news as figures showed inflation at 4.7 per cent.
