Growth scare rattles markets

The global markets suffered yet another a panic attack this week and both the S&P 500 and FTSE 100 took a nose-dive.

The markets suffered another panic attack early this week. The S&P 500 and FTSE 100 fell to seven- and nine-month lows respectively, both losing over 3% on Tuesday. The latter has fallen by 15% since mid-April. Chinese stocks hit a 14-month low. The two-year US Treasury yield slid to a record low of 0.59% and the ten-year yield fell under 3% for the first time in 14 months. The euro reached a record low against the Swiss franc and a 19-month low against sterling. The eurozone's three-month interbank lending rate increased to a nine-month high.

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