London shares lowest since 2016

London shares hit lowest level since 2016

European markets have followed Asian markets lower on Tuesday as investors continued to dump shares.

London, Frankfurt and Paris all fell sharply when they opened on Tuesday with losses of up to 3%. In the US overnight the Dow lost 4.6%.

Japan's Nikkei 225 closed down 4.7%.

The sell-off began last week after data in the US showed stronger wage growth, which raised expectations that US interest rates might start to rise more quickly to tackle inflation.

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