The biggest drop for US markets in six months sparked follow-on selloffs around the world on October 10 and 11, with Asian markets retreating overnight and the FTSE 100 down 1.7% to 7,024.2 as of 12:30 BST.
Market commentators have pointed to better-than-expected economic and employment data from the US as the specific trigger for the bearish bout, as fears mount that the booming US economy is running ahead of the Fed’s existing plans to raise interest rates — signalling further rate rises to come.
