FTSE 100 Takes Nose Dive on Wednesday

Confidence fell and so did the market.

Confidence fell and so did the market.

As energy firms saw only the mining sector make meaningful gains on Wednesday, the FTSE 100 slumped, closing down 46 at 5319.  Scottish & Southern Energy scraped the bottom of the barrel at 5 per cent down.

Not far behind were Invensys and Associated British Foods. 

Royal Bank of Scotland had a banner day after gaining 4 per cent.

In the US, the DOW took a small shot going 9 points down in late afternoon trading on Wednesday at 10,528. 

Another drop in durable goods orders caused investors to question the strength of the economic recovery.

The volume leaders was Lloyds Group.  They were followed by RBS, Vodaphone Group, Barclays and HSBC Holdings UK respectively.

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