UK stocks tumble as renewed concern over global economy spooks markets The FTSE 100 index had £38bn wiped off its value as global stock markets started the year with a rout sparked by fresh fears over the Chinese economy.
Investors returning after the Christmas break were greeted by turmoil on stock exchanges,with Germany’s share index posting its worst start to a modern year on record and London’s FTSE 100 putting in its moment-worst start. As European markets closed, Wall Street looked set for the sharpest modern year losses since the 1930s.
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Source: theguardian.com