FTSE falls as recession fears mount

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In London, markets fell as investors continue to worry about a recession in the US, with the FTSE 100 falling 83.3 points (1.42%) to 5,801.

Smith & Nephew led a small group of gaining shares, adding 5 points (0.76%) to 660.5p, while Compass Group climbed 2.25 points (0.69%) to 328.75p. Man Group shares fell 23 points (4.14%) to 532p, while Cairn Energy dropped 110 points (4.05%) to £26.07. In Wall Street, share values plunged as economic data showed consumer spending was being constrained by higher food and fuel prices, an the Dow Jones lost 315.79 points (2.51%) to 12,266.39, AIG saw the biggest losses as the financial sector continued to suffer on the back of the sub-prime crisis and the firm announced its biggest quarterl...

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