US economic fears spark global sell-off
London’s benchmark index plunges, while markets in Europe and on Wall Street tumble on poor economic data
By Ben Martin
TelegraphUK
15 Oct 2014
Growing fears about the US economy sparked a global stock market sell-off, with shares in London, Europe and the US falling sharply following poor data from America.
The FTSE 100 tumbled 146 points, or 2.3pc, to 6,245 – its lowest level since July last year. The DAX in Germany lost 2.1pc and France’s CAC 40 slumped 2.7pc after weak US retail sales and manufacturing data spurred fears about the health of the world’s largest economy.
Wall Street immediately plunged at the open of trade, with the 30-stock Dow Jones Industrial Average dropping as much 2.7pc – or 369 points – and the broader S&P 500 down as much as 2.1pc.
In the bond market, yields on 10-year US Treasuries slid below 2pc as investors sought shelter in safe-haven assets. Gold, another traditional haven, climbed 0.9pc to $1,244 an ounce.
Brent crude, which has come under significant pressure in recent weeks, continued to slide and was below $85 a barrel.
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