Banks' share prices fall sharply

Banks' share prices fall sharply

news.bbc.co.uk

Banking shares have fallen in London amid news that the bosses of big banks had met Chancellor Alistair Darling to discuss fundraising.

The falls were led by Royal Bank of Scotland, which fell 38%, followed by Lloyds TSB, which declined 20%, and Barclays, which was down 12%.

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[edit on 7/10/2008 by Badge01]

newsvote.bbc.co.uk...

the market is posting a recovery from yesterday - BUT the big UK banks are all taking hits today; but it seems doomsday has been avoided for the time being - i can see the US markets rallying based upon the lead from europe

news.bbc.co.uk
(visit the link for the full news article)

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Mod Edit: Title fixed to reflect original article


[edit on 7/10/2008 by Badge01]

Except the European indexes are falling now. Looks like another day of sell offs and new lows for the US markets.

edit: Looks like the Europeans are buying up gold right now too. Flight to safety...

[edit on 10/7/2008 by mythatsabigprobe]

aye eary gains are turning from green to red as its going south again

From a conspiracy angle, this would be exactly what is expected, IF the goal is to gain control of the major banks with eventual consolidation (in years rather than months) to a single western bank.