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FTSE 100 loses 300 points since the turn of the year

Having ended 2009 on a relatively positive note, the FTSE 100 index has lost 300 points since the turn of the year and now stands at just over 5150. Serious jitters persist within the investment market regarding the UK economy and the worldwide economy and even better-than-expected unemployment figures from the US failed to get investors back onside.

The next few weeks are vital for the UK economy, the worldwide economy and worldwide stock markets and will be very testing to say the least. More and more we are seeing an overdependence upon the US economy to pull the worldwide economy out of trouble and potentially save the likes of Greece, Portugal and Spain which are struggling to maintain their fiscal strength.

It was also revealed today that the UK banking industry has a further exposure to the Eurozone which now stands at around £100 billion and further bad debts could be on the way if trouble in Greece, Portugal and Spain were to spread to other Eurozone economies. We stand on the edge of a potential double dip worldwide recession which could have far-reaching consequences in the short, medium and longer term.

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