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London Stock Exchange Index dropped 13% over the week

UNITED STATES (OBSERVATORY NEWS) — The London Stock Exchange Index fell 13% over the week amid an increasingly alarming situation with the spread of the new coronavirus in the world and the resulting threats to the global economy.

According to Press Association estimates, this was the largest weekly drop in the index since the 2008 financial crisis.

Since Monday, the aggregate value of British companies traded on the London Stock Exchange has declined by £ 200 billion ($ 260 billion). For Friday alone, they lost £ 58 billion ($ 75.5 billion) in value.

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