FTSE dives as global rout triggers new recession fears

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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%...

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