Global markets hammered by poor US data

clock

Disappointing economic figures from the US coupled with a warning over a double-dip recession in the UK have plunged global markets further into the red in afternoon trading.

As at 15.30, the FTSE 100 fell nearly 2%, or 98 points, to 5136, wiping away yesterday's gains by miners and financials. New MPC member Martin Weale stoked economic fears with a warning over the likelihood of a double-dip recession. Additionally, figures from the US showing sales of existing homes plunged 27% in July compared to June also fanned concerns about the strength of the US and global recovery. The figures marked a ten-year low. The Dow is down 1.33% to 10,039 with Boeing, Caterpillar and General Electric the biggest fallers. On the FTSE, Vedanta - which is buying a 51...

To continue reading this article...

Join Professional Adviser for free

  • Unlimited access to real-time news, industry insights and market intelligence
  • Stay ahead of the curve with spotlights on emerging trends and technologies
  • Receive breaking news stories straight to your inbox in the daily newsletters
  • Make smart business decisions with the latest developments in regulation, investing retirement and protection
  • Members-only access to the editor’s weekly Friday commentary
  • Be the first to hear about our events and awards programmes

Join

 

Already a Professional Adviser member?

Login

More on Economics / Markets

Bank of England holds rates at 3.75% as it waits for 'cloudy' data to clear

Bank of England holds rates at 3.75% as it waits for 'cloudy' data to clear

'Wait and see approach'

Michael Nelson
clock 05 February 2026 • 2 min read
Kevin Warsh's surprise pick for Fed chair forces investors to rethink 'dollar debasement'

Kevin Warsh's surprise pick for Fed chair forces investors to rethink 'dollar debasement'

'Catalyst' for rapid repricing

Alex Sebastian
clock 04 February 2026 • 4 min read
Partner Insight: A new VCT landscape - what advisers need to know after the Budget

Partner Insight: A new VCT landscape - what advisers need to know after the Budget

For professional advisers and paraplanners only. Not to be relied upon by retail clients.

Toyin Oyeneyin, Tax Product Specialist, Octopus Investments
clock 19 January 2026 • 5 min read