Online Stock Trading - UK Banks Slump in Last Hour on FTSE Index - Flock of Bears Blamed
UK banks Barclays (BARC), Lloyds TSB (LLOY), Royal Bank of Scotland (RBS), all slumped just before markets closed this afternoon. The shorting ban on banks ended today in the UK but it is not thought that this was the reason for the slump in prices. 
Barclays was the worst faller - crashing 24% in the last hour to 98p. LLOY fell 6%, RBS fell 13%
What was the reason behind this sudden fall in the banks' prices? A flock of US bears are being widely blamed.
Reuters said "New government measures to boost bank lending could come as early as next week, a Treasury source told Reuters on Friday."
They want to unblock frozen credit markets.
"The Chancellor has always said something would be announced before the end of the month and it could come as early as next week."
Some people are even saying Barclays might be insolvent, they certainly have apile of toxic debt.
Barclays 7 Year Chart
Barclays 1 Week Chart
The weekend and Monday could be interesting !
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