Stocks and Bitcoin take fresh hits as cocktail of worries combine to hit markets

Stocks and Bitcoin take fresh hits as cocktail of worries combine to hit markets

Wholesale gas costs have risen sharply while Bitcoin and stock markets have plunged further as tensions over Russia's intentions concerning Ukraine add to a cocktail of concerns for global investors.

The market volatility builds on heavy sell-offs that saw the US Nasdaq index come under particular pressure and endure its worst week of trading since March 2020 last week.

That was largely down to fears of inflated market values and an accelerated pace of rate rises ahead as the Federal Reserve comes under growing pressure to cool surging inflation by raising interest rates at its meeting this week.