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By Graeme Evans and Holly Williams, PA City Staff
Investors are reeling from a fresh slide in London share prices.
The FTSE 100 Index had shown signs of stabilising after Tuesday's slump of 148.6 points, but a poor reaction to weak economic data from the United States caused the top flight index to close 114.6 points lower at 6171.5.
More than £64 billion has now been wiped from the value of blue-chip shares in the space of two days.
£64 billion dollars gets knocked of the FTSE100 in 2 days!!
Signs of panic are happening in all the worlds markets.
Originally posted by infinite
[Ermm..no,
its to do with a inflation increase in the UK, fear of two more interest rate hikes (up to 6%) and the Sterling becoming too strong. That’s why the FTSE100 has lost £64 billion.
Originally posted by Neon Haze
The coming interest rate increases could well push the country into a recession, one that could be very difficult to come out of again as properties have been over inflated to the point of out pricing first time buyers.
Originally posted by infinite
What?
how did you work that one out? recession is not even on the cards for the UK. Our economy is going strong. Inflation is only 3.1%, which 0.1% of the government target so i doubt a recession is on the cards.
Originally posted by Neon Haze
The forecast states 2% growth by year end... I say that that could easily slip to a negative figure if inflation keep rising as it is.
Originally posted by infinite
Originally posted by Neon Haze
The forecast states 2% growth by year end... I say that that could easily slip to a negative figure if inflation keep rising as it is.
near 3%, not 2%
plus inflation will not raise again, it was already predicted by the government due to high energy prices. inflation will slip below 3%.
i think you are failing to understand that inflation is only 0.1% above the government target, its not a disaster.
Originally posted by bartholomeo
I don't really think the economy is going on a recession, but I do think we are paying for the mess in iraq, afganistan and all the black agendas of the elite, with gas, interest rates, inflation, just look around at all the fees you get just to live or make a living, and you'll see for yourself.