Economy
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The
financial turbulence of recent days has wiped billions off the price of shares
all around the world. On Friday August 10th London's stock exchange,
the FTSE 100, alone dropped £63 billion. What does this mean? Obviously market
capitalisation, as it's called, is just a paper price. The same firms are still
employing the same workers and making the same things. But these firms are
suddenly worth £63 billion less than twenty-four hours before. And this should
sound alarm bells for their workers - and for the rest of us.
