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Yesterday saw the biggest ever one-day fall on the world’s stock markets. The Dow Jones collapsed by over 800 points at one stage, pushing the Dow below the 10,000 level. The FTSE 100 suffered its biggest one-day percentage fall since Black Monday in October 1987 and the biggest points fall ever. The Russian stock market fell by 19% and the exchange remains closed. The sell-off engulfed Brazil, Indonesia and Saudi Arabia. The MSCI Emerging Markets Index slumped 11%, its largest daily fall since 1987. This has been one of the worst days yet in the 14-month-old credit crunch.