More heavy selling ripped through global financial markets today as the FTSE 100 index lost 2% and Japan’s Nikkei 225 suffered its biggest one-day slide since 1987. The reverse in London followed Friday’s poor jobs figures in the US, which appeared to fuel doubts about a soft landing for the world’s largest economy.
Tokyo’s stock market was also impacted by the country’s interest rate outlook as yen-linked losses for big multinationals left the Nikkei 225 down by 12.4%. Traders expect a fresh wave of selling on Wall Street later after the Nasdaq Composite closed 2.4% lower and the S&P 500 index lost 1.8% on Friday.
