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 Benedict Cumberbatch says Hollywood is better for black British actors
- 2 Man who held up 'hire me' sign at Waterloo station returns a year later with 'I'm hiring' sign
Rowan Atkinson to sell £10 million McLaren 'supercar' he crashed into a tree and a lamppost
UK weather: Snow to fall in the coming week with sub-zero temperatures to last until early February
Saudi preacher who 'raped and tortured' his five -year-old daughter to death is released after paying 'blood money'
US blames Russia after rocket attacks in Ukraine kill at least 30
Warriors in ancient Iraq suffered Post-Traumatic Stress Disorder more than 3,000 years ago, say researchers
Nigel Farage: NHS might have to be replaced by private health insurance
'We would evict Queen from Buckingham Palace and allocate her council house,' say Greens
French court convicts three over homophobic tweets, in case hailed as a 'significant victory' by LGBT rights campaigners
George Galloway condemns 'racist, Islamophobic, hypocritical rag' Charlie Hebdo at freedom of speech rally
British Muslim school children suffering a backlash of abuse following Paris attacks
Islamic history is full of free thinkers - but recent attempts to suppress critical thought are verging on the absurd
iJobs Money & Business
£30000 - £32000 per annum + benefits : Ashdown Group: A highly successful, int...
£18000 - £20000 per annum: Recruitment Genius: This rapidly expanding business...
Negotiable: Recruitment Genius: A Tax Assistant is required to join a leading ...
£16000 - £25000 per annum: Recruitment Genius: This is an exciting opportunity...