Barclays hits 24-year low as FTSE nosedives

The stock dived to less than 49p in early trading although it has since staged a mini-rally to climb to over 56p again. As recently as February 2007, Barclays shares were worth £7.90 each but, this month alone, they have lost upwards of 65% of its value. Lloyds TSB also plummeted in early trading, falling more than 10% to 40p, helping pull the FTSE to a two-month low of 4,020. Not since 21 November, when London's leading blue-chip index stood at 3,780, has the FTSE been so low. Elsewhere Standard Chartered is approaching a 10% fall, but RBS and Old Mutual have posted early gains of 4%...