Welcome to Go Marketing

This is not the real text. This text is only here to show the approximate size and position of text on the Go Marketing website. This text will be fully editable using the onlne, password-protected Content Management System (CMS).

More than £70 billion was wiped off the value of blue chip shares as the London market suffered its worst one-day fall since the September 11 terrorist attacks in 2001.

The stock market bloodbath came as fears of a recession in the US intensified. Traders described the losses on the FTSE 100 Index as "incredible", with the Footsie at one stage plummeting by as much as 330.7 points.

London's leading share index later closed down 323.5 points at 5578.2, almost equalling the dramatic 324-point fall seen the day after 9/11 and taking the FTSE 100 to its lowest level in around 18 months.

The drop continues an unprecedented slide in the top-flight index this year amid a gloomy outlook for economies across the world. Hefty overnight falls in Asian markets set the scene for the decline, with indices in the region dropping by up to 4%.