Chance of giant asteroid hitting Earth in 2032 falls to 0.0017%

The asteroid is estimated to be between 40 and 90 metres wide but now has a negligible chance of hitting Earth. Photograph: Nasa/Magdalena Ridge 2.4m telescope/New Mexico Institute of Technology/Ryan/AFP/Getty Images

It was a discovery that led to panic-inducing headlines: a giant asteroid found to be hurtling towards Earth that, while unlikely to wipe out life, could do some serious damage.

But now the world can breathe a sigh of relief. After the odds of a future collision rose earlier this year, the likelihood of an impact is now so low as to be negligible.