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Global market data after Fed economy stimulus news

A look at what happened on the various different exchanges, after the US Federal Reserve's announcement that is may withdraw its economy stimulus programme in 2014:

  • FTSE 100 in London: -3pc
  • CAC 40 in Paris: -3.66pc
  • DAX 30 in Frankfurt: -3.28pc
  • FTSE Mib in Milan: -3pc
  • IBEX 35 in Madrid: -3.4pc
  • Dow Jones in New York: -2.25pc
  • S&P 500 in New York: -2.41pc

Source: Reuters and the London Stock Exchange, 8.20pm

Markets slump after US Federal Reserve announcement

Global stock markets fell today after the US Federal Reserve confirmed plans to scale back its economy-boosting drive.

After weeks of speculation, the Fed said it was likely to slow its bond-buying programme this year and end it in 2014 because America's economy is strengthening.

The London Stock Exchange in the City of London Credit: Press Association

London's FTSE 100 Index dropped 189.3 points to 6159.5, wiping almost £50 billion off the value of the top tier.

The 3% drop meant it was below the psychologically-important 6200 barrier for the first time since the start of the year.

There were even steeper losses in Paris and Frankfurt, while the Dow Jones Industrial Average started out in negative territory after closing more than 1% lower in Wall Street yesterday.