Updated: The FTSE dropped more than 3% in the first six minutes of trade on Friday as it tracked US and Asian markets sharply lower amid the ongoing global sell-off.
London's leading index was trading as low as 5,205 at shortly after 8am but has recovered slightly to 5,271 (12.10am), still down 2.26% on yesterday's close. RBS is the biggest faller, plummeting 7.66% to 27.96p. The bank was trading more than 600p in 2007. Elsewhere in Europe, the Cac 40 in France is down 0.43% at 3306.09, while Germany's Dax index is down 1.92% at 6291.34. Italy's index is up 1.31%. In the US, losses accelerated overnight to leave markets nursing their worst single day performances since the financial crisis, with investors continuing to panic over the eurozone s...
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