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03 October 2019

Global growth concerns rock markets as FTSE 100 sees worst day since 2016

Escalating fears over global economic strength alongside the expected introduction of US tariffs on $7.5bn worth of European goods caused a sharp downturn in international markets yesterday (2nd October 2019), with the FTSE 100 seeing its sharpest drop since January 2016.

Saul Fulda, Investment Analyst at investment management and stockbroking firm Redmayne Bentley, said: “The FTSE 100 witnessed its gravest one-day fall in almost four years, closing 3.23% lower, while the S&P 500 fell by 1.8%. The Nikkei dropped 2%, which together with the sell-off across Europe, where the Dax fell 2.76% and the CAC 40 was down 3.12%, painted a stormy picture for international markets.

“Fused with weak US employment data and the global manufacturing slowdown, as well as the ongoing Brexit saga and the Democrats renewed attempts at impeaching the US President, the concerns created a prism of negativity and instability through which investors viewed international markets. Taking this all into account, a sell-off seemed inevitable.”
Ends

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Global growth concerns rock markets as FTSE 100 sees worst day since 2016
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