THE London Stock Exchange surrendered initial gains yesterday to leave investors facing a third successive session of heavy losses.
The FTSE 100 Index was up 59 points by mid-morning, but suffered a sudden loss of confidence to reach lunchtime 52.3 points lower at 6119.4.
The index was down by 132.6 points at the height of its losses, but recovered to close last night down 55.5 at 6116.0.
The top-flight index lost more than 250 points over its previous two sessions, compounded by rumours the United States could be on the verge of recession.
European markets shared London's unease as investors braced themselves for a poor start to trading on Wall Street.
Yesterday, in New York, the Dow Jones Industrial Average was also suffering, with losses of nearly two per cent in early trading.
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