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Stock markets across Europe plunged into the red again today after an International Monetary Fund warning on the global economy caused a massive sell-off of shares on both side of the Atlantic yesterday.
The FTSE 100 index of leading shares sank 127 points or 1.8 per cent by late morning to trade at 7,018.3 after suffering a 1.3 per cent drop yesterday. The headline French and German indices were also down 1.3 per cent after what analysts described as a bloodbath on Wall Street last night.
Dow - Jones - Industrial - Average - Points
The Dow Jones Industrial Average closed down more than 800 points or 3 per cent to 25,598.74 and sparked off big losses across Asian markets overnight after the IMF report warned of the threat to global stability from Brexit, the US-China trade war and global debt levels.
Add to this the threat of further rate rises from the US Federal Reserve, and it is clear investors will be watching like hawks the inflation data due out from the States later this afternoon.
Footsie - Sell-off - Losses - May - Cent
The Footsie sell-off has taken losses since its all-time high in May to 11 per cent, wiping more than £200billion off the value of Britain’s leading companies in a blow to millions of savers with money tied up in the stock market.
Russ Mould, AJ Bell investment director said that a five-day losing streak for stock markets, capped by the worst one-day fall in America’s S&P 500 index since February, 'has investors asking themselves whether this is just the "healthy correction" so beloved of market commentators or the beginning of something more serious'.
Stock - Markets - Nothing - Sort - Standards
'While it is tempting to describe stock markets as volatile, they are really nothing of the sort, at least by the standards of the last 20 years.
'Even allowing for Wednesday’s nasty slide, the S&P 500 has moved by more than 1 per cent from...
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