Morning Markets: FTSE falls over 5% after Asian stockmarket slump

The FTSE dived over 5% on opening this morning on the back of sharp Asian stockmarket declines. Co...

The FTSE dived over 5% on opening this morning on the back of sharp Asian stockmarket declines. Concerns that global economic measures to curb a slowdown will not be enough caused the MSCI Asia Pacific index to drop nearly 7% and the Hang Seng as much as 15% overnight. In Japan the Nikkei 225 also dropped over 6% as investors worried over the depth of the global recession. Philippine stocks suffered one of the worst falls, around 12%, as one of its largest banks announced huge losses and Ukraine became the fifth nation to seek help from the International Monetary Fund. The Bank of Kore...