October was the worst month for world stock markets in history, according to the index provider and rating agency Standard & Poor's, as investors lost a record $5.8 trillion (€4.5 trillion) once falls were converted into dollars.

The terrible performance in October means the world's stock markets have plunged by an average 42% this year, according to the agency. More than $16.2 trillion has been wiped off the value of shares.