Panic selling on Wall St spreads amid concern over trade disputes, inflation and Donald Trump’s clash with Federal Reserve

The City has felt the full impact of a sell-off in global financial markets with shares in the FTSE 100 index of leading companies now more than 10% below their record peak in May.

On a second day of turbulence, aftershocks from panic-selling on Wall Street rippled through Asian and European bourses as dealers took fright at trade tensions, the prospect of higher inflation and Donald Trump’s attempts to pressurise America’s central bank over interest rates.

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Author: Larry Elliott Economics editor