LONDON Reuter: The London stock market took another dive with prices falling to their lowest levels for more than a month as traders sold busily in a market made nervous by continued selling in Tokyo and New York.
The widely quoted Financial Times index of 100 leading shares fell below 1600 for the first time since mid-August. It had fallen 36.7 points by 1430 GMT to stand at 1591.6.
The index has shed more than 70 points since last Wednesday reflecting the dramatic falls on Wall Street last week which were partly blamed on computer triggered sell orders and which interrupted four years of booming share prices.
Traders on Wall Street also pushed share prices down dropping 13 points to 1753 and wiping out a modest nine point gain yesterday. That gain had coincided with a brief recovery in London.
Business in the city had been cautious early today following the record points fall in Tokyo overnight where the market index plunged by 637.33.
“It looks as though U.S. brokers are taking todays Tokyo sell off and yesterday’s lukewarm Wall Street showing as a sign that Wall Street is going to drop against” one dealer said.
Article extracted from this publication >> September 19, 1986
