World markets plunge as investors spurn Fed plans

US shares tanked at opening, copying markets across Europe, as investors Stateside gave the Fed's latest efforts to stave off recession the thumbs down.

The Dow shed over 300 points, or 3.1%, falling to 10,778 points, while the S&P 500 tumbled 3.1%, or 36 points, to 1,130.67. Markets are focusing on the Federal Reserve's decision to buy $400bn worth of long-term government bonds and sell short-term securities. Investors have sold shares after the central bank decided not to pump 'new' money into the economy - as some had expected. In the UK the FTSE 100 remained sharply lower, off 232 points, or 4.4%,at 5,056. If it ends the session at this level it will be the lowest close since 19 August when it finished the day at 5,041. S...