London stocks can't escape the global credit crisis which decimated many foreign markets overnight, with the FTSE 100 down 96.5 points, or 1.54%, to 6174.7 - in early trading.
It's the financials leading the slump, with the hedge fund manager Man Group down 28.25 points, or 5.36%, to 498.75. Prudential is having a hard time; the insurer is down 29.5 points, or 4.24%, to 665.5. Investment firm Invesco is also sliding, currently 26 points lower, or 4.18%, to 595.5. GlaxoSmithKline is bucking the trend, leading the way with a 17 point rise, or 1.31 %, to 1318. In New York, Wall Street suffered its second-worse loss of the year on the back of the US subprime mortgage sector, sending the Dow Jones down 387.18 points or 2.83%, to 13270.68. News it may not co...
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