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 Expert urges cat lovers to own just one animal each
- 2 Car tax disc changes: Two days to go - and they affect you much more than just not displaying a piece of paper
- 3 The Simpsons death: Creator Al Jean would 'kill himself' before character like Homer or Lisa
- 4 British man raped while urinating in bushes at Oktoberfest beer festival in Germany
- 5 A teacher speaks out: 'I'm effectively being forced out of a career that I wanted to love'
Expert urges cat lovers to own just one animal each
Five-year-old Iris Grace is raising awareness of autism through her extraordinary paintings
Isis an hour away from Baghdad - with no sign of Iraq army being able to make a successful counter-attack
Car tax disc changes: Two days to go - and they affect you much more than just not displaying a piece of paper
British man raped while urinating in bushes at Oktoberfest beer festival in Germany
Isis, we are told, is a 'clear and dangerous threat to our way of life'. I’m sorry, but I just don’t buy it
Exclusive: 'Putin's Russia has been my biggest regret,' says Nato's outgoing Secretary General
'Women, walk wherever you want' posters taken down in Stamford Hill following 'unacceptable' signs separating men and women
There’s no excuse for Dave Lee Travis’s behaviour, but we need to keep a sense of proportion
Mark Reckless becomes second Tory MP to defect to Ukip in a month
Should gay sex be illegal? 16% of Britons think so
- < Previous
- Next >
iJobs Money & Business
£18000 - £23000 per annum + Commission: SThree: Real Staffing are currently lo...
NEGOTIABLE: Austen Lloyd: TRUST ACCOUNTANT - KENTIf you are a Chartered Accou...
£18000 - £20000 per annum + OTE £30000: SThree: SThree are a global FTSE 250 b...
Highly Competitive Salary: Austen Lloyd: CITY - Law Costs Draftsperson - NICHE...