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crisis wipes £ 212bn Eurozone debt of the main markets in Europe and see the stock falling to $ 1.2 billion

The FTSE 100 suffered its worst quarterly loss since the Internet bubble burst in summer 2002. The blue-chip index has lost market share leader by 13.7% of its value over the last three months, traders and investors have become increasingly concerned about the debt crisis in the euro area.

The quarterly decline since the fourth worst FTSE 100 was established in 1983 killed more than £ 212bn off the value of the largest companies in the UK since early July. The index lost 1.3%, around £ 18 billion at the close of 5128.5 points yesterday.

While British investors and pension funds nursing heavy losses will be, other European countries were hit even harder, with U.S. $ 1.2 bn (£ 1 billion) striped the value of leading European shares. The Euro Stox 50 Index, which includes Europe's largest companies, fell 25% -. The largest decline since the height of the credit crisis after the collapse of Lehman Brothers in the fourth quarter of 2008

German DAX index lost

25% of its value over the last three months - its biggest drop since 2002. Europe's largest economy has been growing concern about the future of Greece as it is on the hook for major losses in case of insolvency of Athens. There are also signs that the economy has fallen sharply in recent months.

MIB

Italy has lost 26.5% and the Ibex 35 in Spain is 17.5%. In France, the CAC 40 lost 25.1% between July and September.

Banks were the biggest fallers, with Germany's Deutsche Bank and Commerzbank, both over 30%. In France, Societe Generale has lost 51%, its biggest quarterly loss ever, and BNP Paribas fell by over 40%.

Ed Woolfitt, head of trading at Galvan Research, said: "I think if we assume that, under the brand from 4950 to 5000, we are in what I describe as the land of no man, and vulnerable to free fall. "However, the RBS analysts said the FTSE 100, Dax falls seemed too. Falls were also beaten some of the leaders of the world of hedge funds, which are often blamed for benefit from falling markets. The average fund is down 4.5% in the third quarter, according to Hedge Fund Research.

John Paulson, the billionaire hedge fund manager who bet on a global economic recovery at the end of next year, it was reported that a month suffered disastrous. In August, the flagship fund's advantage dropped by 15%.

Man Group, funds the world's largest coverage in the list has doubled the number of layoffs planned for April of next year to 400, as part of a reduction in unit cost. The movement by the funds based in London, comes after it announced a decline of 6 billion in assets under management of surprises this week.

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