After a day of massive stock market falls in Europe and the US of a kind not seen since the depths of the last economic downturn, traders said the atmospherewas reminiscent of the banking crisis of October 2008. Wall Street endured one of its worst days since the height of that crisis, with the Dow Jones Industrial Index closing more than 500 points or 4.3% lower at 11,383 in heavy volume, as it resumed a two-week streak interrupted only briefly on Wednesday. It was the biggest single-day loss since 2008.


World stock markets in turmoil

A photographer prepares to capture the image at the Frankfurt stock exchange as the DAX plunges.

Photograph: Amanda Andersen/Reuters

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