Global stock markets plunged and the price of oil collapsed to its lowest level in more than fouryears this week as pessimism about the economic outlook for the Eurozone gripped investors around the world.
The FTSE 100 index of the UK’s leading shares fell 91.88 points, or 1.43pc, to 6,3339.97, its lowest mark in a year and 7.82pc below highs of 6,878 in May.
The “fear index” which is a measure of investor anxiety, known as the Vix, leapt by nearly 25pc as a draft of gloomy economic data emerged.
UK construction data showed output contracted by 3.9pc in August, much worse than analysts had predicted. Reports also emerged that Germany’s central bank would cut its official growth forecast next week.
The impact of Ebola and lurking geopolitical risks have added to the pessimism.
Source: The Telegraph
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