Market tests nerves at 4,300

The selling of shares came despite US government figures showing new housing sales in February were at their third highest ever monthly level, and that orders for so-called durable goods, such as cars, aircraft and computers increased following a drop in January. UK investors may have taken fright from statements by chancellor Gordon Brown that personal debt levels are not too high, in contrast to other recent statements from Bank of England policymakers saying they felt debt levels may require cooling through higher interest rates. However, more likely is that fears of terrorism afte...