Global stock markets fall sharply amid fears over inflation and China slowdown

Global stock markets fall sharply amid fears over inflation and China slowdown

Global markets fell sharply on Monday as fears over rising inflation and a slowdown in China’s export growth fuelled worries about the health of the world economy.

Stocks in Asia-Pacific markets, Europe and the US all dropped into the red as investors fretted that global growth is weakening, at a time when central banks are raising interest rates to rein in surging inflation.

In London, the FTSE 100 fell to its lowest level in more than seven weeks, down 1.7% or 125 points in afternoon trading at 7,268, with mining companies among the fallers. Japan’s Nikkei had closed down 2.5% earlier on Monday.