Summary
News of a cash crisis at US investment bank Bear Stearns sent the FTSE 100 Index into reverse in a dramatic end to the trading week.
The latest victim of the credit crunch sparked a sell-off in US markets as Bear Stearns said "market chatter" hit liquidity and forced it to seek funding from JP Morgan Chase and the US Federal Reserve.See the full content of this document
Extract
Bear Stearns Drags Ftse ; Britain
The London market followed Wall Street, unwinding earlier gains, to close one per cent down, or 60.7 points, at 5631.7.
Banks littered the...See the full content of this document
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