It is hard to identify the set providing the best recall or the one that led to significant fall in its values.
The fall in its share price has reduced the value of the original cash-and-paper terms to about 710p.
This prevents normal market adjustment, as a country with a trade deficit would expect to see its currency fall in value, making its goods and services more competitive.
Consider, for example, its competitor UBS, which announced a $10 billion write-down linked to the fall in the value of its assets backed by American subprime mortgages, after having downgraded its assets by just $3.4 billion in October.
To me, anyway, the real shocker is that, by 2008, Barclays' leverage ratio — total assets divided by total equity — was forty-three, which means a mere three per cent fall in the value of its assets could have wiped out its entire capital.
When a fund is leveraged six to one, a five-per-cent fall in the value of its portfolio becomes a thirty-per-cent loss in capital.
Property companies were unwanted after Land Securities, 71p lower at 468p, unveiled a larger than expected £4.74bn fall in the value of its portfolio.
On Friday Wachovia revealed a sharp fall in the value of its holdings.
Shares of Wachovia fell 24 cents, or 0.6%, to $40.06, after the bank announced a sharp fall in the value of its holdings.
Shares of Wachovia fell $1.85, or 4.6%, to $38.45, after the bank announced a sharp fall in the value of its holdings.
