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Bear Stearns effect: UK market down
Bear Stearns effect: UK market down
Last Modified: 17 Mar 2008
By:
Katie Razzall
The fallout from the near collapse of Bear Stearns is felt in this country, with the London Stock Exchange continuing to fall.
Today, the Bank of England made an extra £5bn available for banks to borrow and found that the funds were five times over-subscribed.
It was a similar picture when Northern Rock had to seek billions of pounds of loans from the Bank of England when its funds dried up.
Gordon Brown said the government would continue to do what was necessary to maintain stability.
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