FTSE WIPEOUT -- Stock market hits 3-year low

Britain’s top stock market closed at its lowest level since December 2012 on Monday.

The FTSE 100 closed down 1.32% at 5874,06.

Mining stocks were the biggest fallers, but the big driver was the oil price.

Oil continued to dive on Monday, following a big sell-off on Friday. The FTSE 100 held up relatively well until the US opened. US stocks turning lower spooked the market, leading to a steep late afternoon dive.

Let’s hope Tuesday is better.

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