Stock markets have again fallen worldwide, fired by concerns that turmoil in the financial sector is far from over.
On Wall Street, the US Dow Jones index fell to 6,700 points for the first time since 1997.
In the UK, the FTSE 100 index closed around 3500 - a six-year low. Markets elsewhere in Europe also fell sharply.
David Chalupnik, Head of Equities at First American Funds said that ” things can improve but it is going to be years before we get back to levels we saw in the markets a year ago”
HSBC is seeking to raise from shareholders around £12.5 billion to both shore-up its balance sheet and to grow through “targeted acquisitions”.
Tough measures in tough times – from one of the largest and strongest banks around.
