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* FTSE 100 down 8.5%, FTSE 250 down 6.1%
March 9 (Reuters) - London's FTSE 100 plunged to a
three-year low on Monday after a sharp drop in oil stocks, as a
move by Saudi Arabia to raise crude output sent prices of the
commodity crashing, with investors also alarmed about the
economic fallout of the coronavirus outbreak.
Oil majors BP Plc BP.L and Royal Dutch Shell Plc RDSa.L
tumbled more than 20%, dragging the wider oil and gas index
.FTNMX0530 down 22%, after Saudi Arabia slashed its selling
price following Russia's refusal to cut oil supply. The commodity-heavy FTSE 100 .FTSE gave up 8.5%, while the
domestically focussed mid-cap index .FTMC shed 6.1%.