Wall St fails to join the party

My Account
Logout

Create an Evening Standard Account

Use your social network

Save time by using your existing account to sign in to Evening Standard

We'll never share your information or post anything to your account without your permission

Welcome! Sign in here

Use your social network

Save time by using your existing account to sign in to Evening Standard

We'll never share your information or post anything to your account without your permission

Forgot your password ?

Registration

* indicates fields that are mandatory

Email *

Password *

Confirm Password *

First name *

Surname *

Postcode *

Country *

Mobile phone number

Username *

Gender *

Year of birth *

When you sign up...

You will have access to all our online competitions, discounted offers and can post comments on our site.

You will also receive The Weekender newsletter sent every Thursday - it’s full of fantastic offers and ideas for the weekend. You can update your email preferences in your account page when you log in.

Other newsletters and emails

Homes & Property Newsletter - Yes I want to receive the weekly email with all the latest news on property in the capital

Occasionally we would also like to send you relevant emails detailing specific offers either from ourselves or carefully selected partners. If you would prefer not to receive these then please tick the appropriate boxes below. We will never pass on your details.

I do not want to receive additional offers and information from the Evening Standard

I do not want to receive additional offers and information sent by Evening Standard on behalf of carefully selected partners

Terms and Conditions

* I have read, understood and agree to be bound by the terms and conditions of Evening Standard

Registration

Mail Sent for Registration Confirmation.

A confirmation email has been sent. Please activate your account by clicking on the activation link sent in your mail box.

The Dow Jones Industrial Index fell four per cent, or 332 points to 7,949.09, the steepest fall for two months, over fresh concerns about the health of America's banking industry. The huge sell-off hit London where the FTSE 100 opened this morning down 61.38 points at 4030.02. Barclays was the biggest victim, falling 19.7p to 53.2p, knocking just over a quarter off its value. Sterling slid again against the dollar.

Richard Cripps, of brokers Stifel Nicolaus, said: "There's just tremendous fear and uncertainty in the banking sector."

Some analysts said they were disappointed by the absence of specific measures to tackle the financial crisis in the inauguration speech.

Major banks led the slump with Bank of America down 28 per cent, JP Morgan 20.7 per cent lower and Citigroup off 20 per cent. State Street Corp, the world's largest institutional money manager, made a quarterly loss of $10 billion.