The market went into a tailspin today, wiping £39 billion off the value of leading shares amid fears of a Latin American meltdown. The FTSE-100 Index lost 230.7 points by lunchtime to 5802.9 after massive falls in New York and Hong Kong overnight.
The resignation of Brazil’s hawkish central bank head sparked the panic as dealers across the world feared his replacement would loosen the reigns on fiscal policy and steer the country to collapse.
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