Markets on edge after ‘everything rout’; Heathrow raises 2022 passenger forecast – business live

Markets on edge after ‘everything rout’; Heathrow raises 2022 passenger forecast – business live

Good morning, and welcome to our rolling coverage of business, the world economy and the financial markets.

Markets are on edge after their worst session in almost two years, as fears grow that the world economy is slowing... just as central bankers raise interest rates and unwind their stimulus packages.

Asia-Pacific stocks have hit two-year lows overnight, while oil has dipped another 1% after a sharp fall on Monday (more on both shortly).