Thursday, Dec 13, 2007
Will another $50bn perhaps save the day?
Citywire: Thursday Closing Market: FTSE crashes by 200 points on liquidity fears
The FTSE 100 suffered a torrid day falling over 195 points as yesterday’s news that Central Banks would pump billions into the markets failed to dispel fears over a continuing credit crisis.The FTSE 100 closed down almost 3% at 6,364.20 again driven by weakness in the banking sector as all the major markets were hit by unease over whether the central banks’ strategy to pump liquidity into the market would be enough to stave off recession.
Posted by jack c @ 07:20 PM (290 views) Add Comment
1 Comment
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1. alan said...
It can't be long before a chorus of journalists want another $50bn released onto the market with a 0.5% cut in interest rates. That's the way sentiment is going!
And then another $50bn.....
If UK PLC was a listed company, it's lenders might ask what security there was. Otherwise the £'s in our wallet become rapidly declining pieces of paper, soon to be replaced by a £50 coin.