Asian markets lead global fall after uncertainty over US monetary policy
Warnings of slower but more stable growth over the coming months
The FTSE 100 fell again this morning for a fourth day as uncertainty over US monetary policy left world markets in decline.
The Nikkei closed down 6.4 per cent last night, driven down by nagging concerns about a possible moderation of asset purchases by Washington’s Federal Reserve. The leading benchmark of Japanese shares is now 22 per cent below its peak in May. There was contagion across Asia as Chinese shares fell 3.3 per cent and Hong Kong’s Hang Seng slipped 2.2 per cent.
On the FTSE 100, RBS shares slipped 18.9p to 306.7p after news last night that chief executive Stephen Hester will leave this year giving investors cause for concern that no successor is in place. The overall index shed was down 1.07 per cent to 6232.33, its lowest level since January. The UK blue-chip index is now 9 per cent below its May peak.
There was heavy selling in Europe too, with the French CAC shedding 1.2 per cent and the German DAX falling by 1.94 per cent. Spain’s IBEX slipped by 1.1 per cent and Italy’s benchmark index was down 1.6 per cent. The FTSEurofirst 300 was 1.45 per cent lower, driven down by slides in commodity and banking stocks, meaning that it has now given up all its gains since April’s rally.
Traders have expressed worries that better economic data from the US economy will prompt the Washington central bank to “taper” its bond buying scheme, thus draining liquidity from global equity markets.
- 1 Renee Zellweger on plastic surgery reports: 'I'm living a fulfilling life and I'm thrilled that perhaps it shows'
- 2 Disney announces new female-led film Moana
- 3 Banksy not arrested: Internet duped by fake report claiming artist's identity revealed
- 4 Australian café owner sparks debate after saying 'No' to having unruly children on premises
- 5 Video: Boxer Vido Loncar brutally assaults referee following defeat
Ottawa shooting: Canadian soldier dies after being shot at National War Memorial with one gunman killed inside parliament
Renee Zellweger on plastic surgery reports: 'I'm living a fulfilling life and I'm thrilled that perhaps it shows'
Isis releases first video showing stoning of woman accused of committing adultery as her father shouts 'don't call me Dad'
Oscar Pistorius: The brutal prison life that awaits disgraced athlete
Banksy not arrested: Internet duped by fake report claiming artist's identity revealed
Cameron is warned 'no possibility' of UK reducing immigration and that bid to bring in quota on migrant workers would be illegal
Of course, teenage girls need role models – but not like beauty vlogger Zoella
Residents should throw a street party and mix with immigrant neighbours, councils told
Russell Brand threatened with arrest after filming outside Fox News headquarters
London bus driver 'kicks gay couple off for kissing'
Support for EU membership 'at highest level since 1991 with most Brits wanting to stay in'
iJobs Money & Business
£24000 - £28000 per annum + bonus & benefits: Ashdown Group: IT Business Syste...
£18000 - £23000 per annum + Commission: SThree: The SThree group is a world le...
£18000 - £23000 per annum + Comission: SThree: The SThree group is a world lea...
£20000 - £25000 per annum + OTE £Competitive: SThree: SThree Group and have be...