FTSE tumbles as crisis for world markets looms

Concerns about the impact of the sub-prime crisis in the US have resurfaced hitting the US markets last night and having a knock on effect on Japan and the UK. The top losers on the FTSE were unsurprisingly the banks with Barclays down 3.24% and Royal Bank of Scotland Group falling 3.11%. At the other end of the spectrum, the winners included big oil players Tullow Oil (up 1.36%), AstraZeneca (up 1.12) and BP up 0.89% which benefited from record breaking oil prices. The trouble started in the US where markets reacted badly to a downgrade at Citigroup. Financial stocks were hit parti...