George: risk of equities sell-off

A SELL-OFF in the world's stock markets is among the potential downside risks to global economic growth, the Bank of England Governor, Eddie George, said yesterday.

Speaking after a meeting of central bankers of the G10 countries, Mr George said: "There was concern that the stock market has been extremely strong and there could always be an abrupt adjustment." He also said fears over the year 2000 computer bug were now focused on whether the financial markets stayed liquid in the run-up to the new year, which was "very much a central bank concern".