Markets hit by US interest rate rise worries as IMF sees turbulence ahead – as it happened

Tech stocks continue to slide as investors brace for US Federal Reserve to tighten monetary policy due to high inflation

• Latest: Wall Street drops as tech shares fall again
• Bitcoin drops to $40,000
• Eurozone unemployment rate fell in November
• Emerging economies must prepare for U.S. interest rate hikes, IMF says
• Federal Reserve could rattle financial markets by tightening policy
• UK developers face 4bn bill to fix cladding crisis

Unemployment across the eurozone has fallen again, as the region battles back from the economic shock of the pandemic.

The euro area jobless rate fell to 7.2% in November, data firm Eurostat reports, down from 7.3% in October and close to its pre-pandemic levels.