As leaders gathered in Davos,FTSE 100 was gripped by panic selling and entered bear market with Dow Jones also plungingFears that the global economy could be heading for a repeat of the 2008 financial crash have sent shockwaves through financial markets – prompting a rush to secure havens by investors.
Oil prices fell to a fresh 12-year low on Wednesday and metal prices tumbled in response to warnings that China’s slowdown could derail the global recovery at a time when central banks, which came to the rescue in the credit crunch, and have only limited firepower.
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Source: theguardian.com