Stock market is braced for more falls this morning

Stock market is braced for more falls this morning after UK firms had more than £250billion wiped off their value last week amid coronavirus panic Shares around world plunged last week as first British death was confirmed  The rout knocked £4.6trillion off global shares in a sign of rising investor panic At its 8am opening today, Britain's FTSE 100 index was unchanged at 6580.61

By Rory Tingle For Mailonline

Published: 07:42 GMT, 2 March 2020 | Updated: 08:35 GMT, 2 March 2020

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The stock market is braced for more turbulence this morning after British firms had £250billion wiped off their value last week amid the fallout from coronavirus. 

At opening today, the index was unchanged at 6580.61. By 8.15am, it was up 183.64 at 6764.25.

As the first British death was confirmed, shares around the world plunged last week – triggering an alarming fall in the value of savers’ pensions and investments.

The rout knocked £4.6trillion off global shares in just one week, as markets across Europe, Asia and the US were hammered.

The FTSE 100 index of the UK’s largest companies fell another 3.2 per cent – or £54.2billion – on Friday to hit the lowest level since July 2016, shortly after the Brexit referendum. 

It had shed 11.1 per cent, or £206.6billion of its value, since markets opened last Monday morning.

The FTSE 100 index (pictured) of the UK’s largest companies fell another 3.2 per cent – or £54.2billion – on Friday hit the lowest level since July 2016, shortly after the Brexit referendum

The FTSE 100 index (pictured) of the UK’s largest companies fell another 3.2 per cent – or £54.2billion – on Friday hit the lowest level since July 2016, shortly after the Brexit referendum

The FTSE 100 index of the UK’s largest companies fell another 3.2 per cent last week (this graph shows the index from Tuesday to its opening today)

The FTSE 100 index of the UK’s largest companies fell another 3.2 per cent last week (this graph shows the index from Tuesday to its

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