Qualified advisers answering your
Financial Questions
call 0800 092 1245

Lehman Brothers fallout knocks £50 billion off FTSE100

Who would have guessed that a move which had been flagged late last week could turn into a disaster for worldwide stock markets? Who could have seen the turmoil and knock on affect from the failure of Lehman Brothers to agree a lifeline?

A massive £50 billion pounds was knocked of the value of the UK's premier stock market index as traders ran for the hills after the Lehman Brothers bankruptcy petition was submitted. The main victims of the fall were the banks with many traders now looking for the next possible casualty with HBOS top of many investors' lists. There is also the problem of recouping money owed by Lehman Brothers to the array of financial companies around the world who dealt with the group.

The problem now is that market sentiment has crumbled in the face of yet another large scale corporate disaster but it could so easily have been much worse with US stock broking giant Merrill Lynch taken over by Bank of America before it ran out of funds. Rumours persist that the US authorities were behind the move which went through at lightening quick pace. This is not the end of the large corporate failures with grave concerns about the state of the UK financial market.

Share this..

Related stories

Financial Guides

Financial Calculators

Our useful calculators can help you get your finances in order:

Latest News


Helpful new tax year facts that could affect you and your money

Blog | Seven helpful new 2016/2017 tax year facts that could affect you and your money. Our recent online blog shares a brief outline on how to stay up to date.

Read more

Useful Links

Popular Searches

Please Enter More Details

Enter More Details