London Stocks Tumble 16.9

<i> Associated Press</i>

Share prices ended lower in an abbreviated session today on London’s Stock Exchange.

The market closed about four hours earlier than normal on New Year’s Eve.

At the close, the Financial Times-Stock Exchange 100-share index was down 16.9 points, or 0.8%, at 2,143.5.

For the year, the 100-share index fell 279.2 points, or 11.5% from its 1989 closing level of 2,422.7.


Closing volume was 129.9 million shares.

The market has been plagued with worries about Britain’s economic downturn and the country’s high interest rates, which currently stand at about 14%. In recent months, the market also has been nervous about the Persian Gulf crisis.