FTSE sinks 7% lower
Recession fears put the brakes on the FTSE 100 Index's two-day rally with the blue-chip index losing 7.16%.
London's top-flight stocks made strong gains on Monday and Tuesday, adding a combined 12%, as optimism over banking rescues carried the market forward.
But shares fell 314.62 to 4079.59 as fears over global growth mounted. The Dow Jones index in the US also plunged 733 points, or 7.8%, to 8,577.