FTSE Loses £46bn To Plunge To 15-Month Low

The FTSE 100 has suffered its biggest one-day fall this year, losing around £46bn in value to close down 2.8% (181 points).

The share index hit the 15-month low as stocks such as commodities and banks saw big drops amid fears of weakening global growth.

Pharmaceutical firms also saw falls following AbbVie's decision to reconsider its £34bn ($55bn) takeover bid for Shire.

Henk Potts, director of global research at Barclays, said: "The stock market is in a fear mode at the moment on worries about global growth conditions and normalisation of US interest rates.

"But if the sell-off continues, it could prove to be a strong entry point into an asset class that we think will continue to outperform."

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