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European Markets Continue to Skid

London exchange drops after opening higher
By Jason Farago,  Newser Staff
Posted Aug 17, 2007 5:45 AM CDT
European Markets Continue to Skid
Two cyclists ride pass a financial board displaying the FTSE index in London, Wednesday, Aug. 1, 2007. Share prices on the London Stock Exchange were lower at midday Wednesday and at noon, the FTSE 100-share index was down 94.1 points at 6,266.0. Asian and European markets tumbled Wednesday as investors...   (Associated Press)

(Newser) – Financial markets across Europe were off again in midmorning trading. In London, the FTSE opened slightly higher and then suffered new losses as UK traders continued to reel from yesterday's steep fall-off, the exchange's most calamitous one-day drop in years. At mid-morning the index was down 0.2% and markets in France and Germany experienced similar losses.

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Whether a market correction or the start of a crash, yesterday's drop, in which the London bourse to close below 6,000 points for the first time since September 2006,  badly rattled the London financial world. Other European markets continue to fall, leaving analysts to wonder if the worst in London is yet to come. (Read more credit crisis stories.)

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