European stock markets continued to slide the day after recession warning signals not seen since the global financial crisis triggered the biggest losses of 2019
Shares in the US had plunged after bond markets flashed recession warning signals not seen since the global financial crisis.
By 11am the FTSE 100 had fallen by 1% with Germany's DAX and France's CAC indexes erasing their earlier gains and went negative. The Europe-wide STOXX 600 was also down by nearly 1%. America's Dow Jones, Nasdaq and S&P 500 also pointed towards a poor day for markets when New York begins trading. Yields on both US and UK government debt continued to fall with interest-rates on 30-year bonds issued by both countries falling to an all-time low as investors bought and raised prices for the safe-haven asset.10-year gilt yield lower than 2-year giltsnot seen since the global financial crisis - following a slew of gloomy economic data.
The phenomenon, known as"yield curve inversion", was also seen in UK bond markets - the first time it had happened since 2008.
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