Nonetheless, 5000 mark has been tagged to be psychologically important by the share market, but this time the market figures are fluctuating so heavily that many unusual results have been noticed on the indexes this time.

According to the reports, London’s index of leading shares at one stage fall even below the 5000 mark but fortunately regained the fall in sometime and closed at 5040.76, which is just over 1% down on the day.

Thursday cited the worst stock market fall since the financial crisis of 2008, resulting which the traders fled from equities to less risky assets. Moreover, the FTSE All-World equity index also cited a 20% fall since May.

The continuously rising fears regarding bank funding, the spread of the European debt crisis and the fragile US economy has prompted many traders and investors to dump their stocks on Friday.

Also, regarding the situation, Morgan Stanley warned yesterday that the present situation clearly highlights that the US and Europe were dangerously close to recession despite all possible efforts that have been made to revive the growth of the economies.

One of the traders said: “We’ve seen nothing that’s convinced us that another global recession can be avoided: the indecisiveness of Europe’s leaders over its debt crisis and America’s stalling recovery [means] you’ve got a pretty potent mix”.