Intervention fails to stem equities sell-off

The wide-scale intervention by central banks around the world on Thursday and Friday reduced spreads in domestic money markets, but failed to stop the declines in global stock markets.

After recording losses on Thursday, the FTSE 100, the leading stock index for the London Stock Exchange, took another beating on Friday. The index fell sharply in early trading, and continued losing ground throughout the day to end 3.71% lower.

Earlier, Asian markets also fell sharply with the Japanese Nikkei 300

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