Billions Wiped Off Value Of Shares In UK And US

Weak Chinese economic data combined with fears of a US interest rate rise continue to haunt investors around the world.It was another volatile day on global stock markets with the FTSE 100 index of leading UK shares closing down 3% on 1st Sept.

Around £48.5bn was wiped off the value of the Footsie following another round of weak Chinese economic data and fears of a US interest rate rise on 1st September.Investors reacted on 1st September to further evidence of the economic slowdown in China with figures suggesting manufacturing activity was at a three-year low.The slowdown in China has been a major factor behind the sharp falls in oil prices.

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