European Markets Face Biggest Losses Since 2009 After China Panic
- European Markets Face Biggest Losses Since 2009 After China Panic
by Graeme Wearden in London (now) and Martin Farrer in Sydney (Asia crash), http://www.theguardian.com/international (Live Update)
Wall Street expected to tumble, following heavy losses in Europe and Asia today
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* Latest: €400bn wiped off biggest European firms today
* FTSE 100 could lose £70bn
* Latest summary: European market slide after Asian rout
* Chinese stock market tumbled 8.5%; biggest fall since 2007
* Analyst: Beijing isn’t in control
* Beijing poised to flood the market with cash, says WSJ
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It’s a fast-moving situation, but the FTSE 100 currently is on track to lose roughly £70bn of value today, if it closes down around 4.5%.
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