FTSE in £30bn meltdown as Leave gathers momentum in EU referendum campaign
More than £30bn was wiped off the FTSE 100 Index yesterday as mounting Brexit fears sent the London market into meltdown.
The pound fell further and Britain's blue chip share index tumbled below the 6,000 level for the first time in nearly four months as the latest polls suggested record support for Brexit.
The plunge means more than £70bn has been lost from the index since the start of the week.
The London market was more than 2% lower after hefty falls in the previous session, while the pound dropped 0.8% to 1.41 dollars after hitting two-month lows against the US dollar and euro on Monday.
The market and currency woes come after three opinion polls on the EU referendum put the Leave campaign in the lead.
It was also in the wake of the Sun newspaper coming out in favour of Brexit.
According to a poll of polls, support for Brexit is now at its strongest since records began last year.
The referendum jitters spread to markets worldwide as share prices dropped sharply ahead of the EU referendum, with falls compounded as oil prices fell once more.