Global economy fears grow as China and eurozone slump

Financial markets around the world sell off sharply after drop in Chinese exports

Fears are growing over the state of the global economy after China recorded a shock fall in exports, while European factory output declined by the biggest margin in almost three years.

In a sign that the worldwide slowdown is gathering pace, official figures showed Chinese exports were down 4.4% in December - the largest fall since 2016 - on the back of faltering demand in most of its key markets. Imports fell 7.6% to reflect waning domestic demand.

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