Stock market Summary ends week August 05, 2011, FTSE 100 Index, Japan's Nikkei 225 and Hong Kong's Hang Seng down

Indonesia stock info - Stock market Summary ends week August 05, 2011, FTSE 100 Index, Japan's Nikkei 225 and Hong Kong's Hang Seng down ; London's blue chip share index took another hammering today, capping a calamitous week that has seen nearly 10 per cent wiped from its value.

The FTSE 100 Index fell 146.2 points, or 2.7 per cent, to 5247 today amid continued panic that America will lead the global economy back into recession and the eurozone will be crushed under the weight of its debts.

London's top flight share index nearly moved into positive territory at one point after a key report showed 117,000 jobs were created in the US last month, an increase on the past two months.

But the bounce lasted less than an hour, as the index fell further into the red in a volatile day of trading amid rumours that the US could lose its cherished AAA credit rating. In America, the Dow Jones also lost nearly 1 per cent of its value in early trading.

Another dire day of trading means the FTSE 100 Index has ended the week down 9.8 per cent, which has slashed £147.9 billion from its value.

The top flight registered its biggest fall of the year yesterday - battering pensions and savings funds in the process - while New York's Dow Jones Industrial Average plunged 4.3 per cent as Wall Street suffered its worst day for nearly three years.

The panic spread to Asia where Japan's Nikkei 225 and Hong Kong's Hang Seng dropped 4 per cent overnight.

There are rising fears that Italy and Spain, the eurozone's third and fourth largest economies, could default on their debt repayments and require EU-funded bailouts.

Worries are also mounting over the strength of the US economy following a raft of gloomy data, suggesting its recovery is running out of steam.

Investors have been switching their cash from risky assets, such as shares, to safe havens like gold, which recently hit fresh highs.

Royal Bank of Scotland saw its shares drop 7 per cent after it published half-year results revealing a £794 million loss.

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