Asian and European share indexes have continued to fall sharply on Tuesday amid fears of a recession in the US leading to a global economic slowdown.London's FTSE 100 index has had a bumpy day, falling more than 3% at the open. It has since recovered and was recently trading between 1% higher and 1% lower.
Earlier, Asian markets had tumbled with Japan's Nikkei index closing down 5.7%, taking its decline this year to 18%.Many analysts are predicting indexes could fall further in coming weeks.
"I think we can safely say that the stomping, snorting optimistic beast of a market is fleeing the field, to be replaced by something scary and grizzly," said BBC Business Editor Robert Peston.
Tuesday, 22 January 2008
