Global shares nosedive on China economic woes

Stock markets across the US and Europe have fallen sharply as fears of a Chinese economic slowdown continue to haunt investors. Wall Street's Dow Jones was down 2pc in mid-morning trading, having earlier fallen 6pc. London's FTSE 100 index closed down 4.6pc at 5,898.87, with major markets in France and Germany down by 5.5pc and 4.96pc respectively. The sell-off hit stocks across almost every sector in New York. The Dow Jones at one point fell below 16,000 for the first time since February 2014, while the technology-heavy Nasdaq index was 2.4pc lower in morning trade, recovering from an earlier plunge of 8pc. Shares in Asia were hit overnight, with the Shanghai Composite in China closing down 8.5pc, its worst close since 2007. At its lowest point in the day, the FTSE 100 had lost as much as 6pc, wiping some £100bn off its value. Global investors are worried about growth in the world's second largest economy, according to a news agency---Aminul.