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3/10/15

Global ECONOMY: markets slide amid fears of historic US interest rate rise

Global stocks have spiraled downwards amid lingering concerns over Greece going bankrupt and the prospect of the first rise in US interest rates in almost a decade.

In Europe shares across the board fell, despite the European Central Bank’s new bond-buying campaign continuing to push down the euro and the bloc’s already record-low borrowing costs.

London’s FTSE, Britain’s top share index, suffered its biggest decline so far this year, hit by falls in insurer Prudential and energy stocks such as BG. The FTSE closing down 2.5 percent at 6,702.84 points.

Commodities struggled while oil prices dropped to near one-month lows as oversupply and weak demand pushed Brent crude oil futures down.

Read more: Global markets slide amid fears of historic US interest rate rise

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