• OCTOBER 7, 2008, 2:34 P.M. ET

Royal Bank of Scotland Plunges 39%

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Royal Bank of Scotland Group PLC shares plunged 39% Tuesday, the second consecutive day that shares of the bank have fallen sharply amid plans by the British government to shore up confidence in weakening U.K. financial stocks.

In London trading, RBS shares were down 58.10 pence to 90 pence ($1.57). Monday, RBS shares fell 20%.

The sharp drop could increase pressure on the U.K. Treasury to quickly finalize plans for strengthening the capital of some of the country's biggest banks, including Barclays PLC, ...

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