FTSE hits biggest low since 9/11

from itv: The FTSE 100 Index has plummeted by 323.5 points to close at 5578.2 - its biggest one-day points drop since the September 11 terrorist attacks in 2001.

The FTSE 100 nosedived by 5.5 per cent as fears of a US recession sparked a global sell-off.

Shares across Europe also dived and Asian stock markets suffered heavy overnight losses as fears over the health of the world's biggest economy swept through markets across the globe.

The falls followed Friday's drop in the Dow Jones Industrial Average on Wall Street, when investors were left unimpressed by the US Government's tax-relief plans to spur on the economy.