FTSE Dives On US Data
Published / Last Updated on 17/08/2011
FTSE Dives On US Data.
The FTSE 100 closed down 4.5% on the back of fears about a double recession and poor manufacturing date in the US. The Dow Jones was down 3.55% and the S&P 500 was down 3.72%.
Morgan Stanley have announced they will be cutting its growth expectations for Europe due to weaker than expected growth in the second quarter. It now expects GDP growth to average 0.5% in 2012.