Black day for shares as €4.5bn lost

By Brian O’Mahony, Chief Business Correspondent
ON a black day for Irish shares a total of €4.5 billion was wiped off the value of the Irish Stock Exchange yesterday.

Market sentiment was certainly not helped by fears that investors in one of Britain’s biggest mortgage lenders, Northern Rock, might lose their life’s savings as the troubled bank struggled to cope with demand from thousands of savers looking to withdraw their investments.

Those fears were illustrated on Dublin’s Harcourt Street yesterday as a queue of up to 400 people developed outside the banks Dublin offices.

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