RBS plummets as financials flounder

Hardest hit was RBS, which nosedived more than 23p (68.3%) to 11p, after revealing it anticipated unprecedented losses to be announced next month while the Government looks to take a 70% stake in the bank. Fears of further nationlisation impacted Barclays, which shed almost 10% to 88.3p, while Lloyds TSB, HSBC and Standard Chartered also struggled, falling 31%, 12.69% and 11.85% respectively. IFAonline