World stock markets dive as Trump attacks 'crazy' US rate hikes

Europe suffers heavy losses and sell-off drags FTSE 100 into a correction

A jittery, volatile week on global financial markets has burst into a frenzy of selling, triggered by heavy losses on Wall Street and comments by Donald Trump describing US interest rate rises as "crazy".

Europe suffered heavy losses in morning trading on Thursday. The Stoxx 600 index, which tracks the biggest shares in the region, tumbled by 1.6% to its lowest level since the start of February 2017. The MSCI world stock index hit an eight-month low.

Related: Why are markets plunging and which stocks are worst hit?

The Australian market has been caught up in the global sell-off amid worries that rising US long-term interest rates will impact economic growth. Keep across the day's news at https://t.co/HBM7UKKl3C #ausbiz pic.twitter.com/rJMmt3qz1V