The end to a record breaking year

Stock markets have closed for 2008 and the FTSE 100 has endured its worse yearly fall since it was established in 1984.

The index finish down 30.9 per cent for the year but a better comparison could be with the all share which was down 32.8 per cent its worst since 1974 when it fell by over 55 per cent.

According to the Guardian

A record $14 trillion (£9.7tn) has been wiped off world share values this year as stockmarkets around the world suffered their worst 12 months on record.

But it is not just shares that are slumping.The pound is now almost at parity with the Euro and oil was trading at $38 a barrel a decline of 60 per cent over the year.