Recession concerns fuel global share plunge

16/10/2008 14:14:21

Share prices have slumped on many of the world's major stock markets amid continuing fears of a global recession.

At the close of trading in London, shares were down seven per cent, in Paris and Frankfurt by six per cent and in Hong Kong by five per cent.

The Dow Jones index in New York was also substantially down in morning trading.

Confidence among investors is said to have been shaken by fears that the moves by governments to tackle the international financial crisis won't be enough to avoid recession.

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