European and US stock markets have seen sharp falls as fears have deepened over prospects for the global economy.
London’s FTSE 100 share index has fallen 1.4% to 6,339.97, making a 12-month low, as did Germany’s Dax. In the case of France, its Cac-40 fell to its lowest level in 2014.
The United States’ Dow Jones erased its gains for the year, with the tech-heavy Nasdaq tumbling more than 2%.
Poor economic data from Germany this week has stoked fears that the eurozone could be heading for another recession.
Oil prices also are not spared as they saw sharp falls, with the Brent crude price hitting its lowest level for nearly four years.
US Dow Jones which recorded its biggest one-day fall of the year on Thursday also drops further by 0.7% on Friday to close at 16,659.25, losing all the gains it has made this year. Photo credits: bbc.com