Pound tanks amid global meltdown: Panic in the markets as fears mount for economy - This is Money

Sterling fell as low as $1.2166 and shares were also on the slide with the FTSE 100 down 1.6% as £30bn was wiped off the value of the blue-chip index.

The pound crashed to a two-year low and shares tumbled amid mounting fears sky-high inflation will tip Britain into recession. As bleak figures showed the economy contracted in March before a sharp … [+3601 chars]

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