China turmoil takes toll on global stocks in turbulent start to 2016

Anxiety grips markets as sharp drops on world's biggest stock exchanges mirror tumbling shares in Beijing

A punishing week has left global stock markets nursing losses of more than $2tn in the first week of the new year after worries about China's faltering growth and turmoil on its stock exchanges reverberated around the world.

Almost 85bn was wiped off the FTSE 100 in its worst opening week to a year since 2000, when the dotcom bubble burst. The blue-chip index closed at 5,912.44 on Friday, down 0.7% on the day and 5.3% on the week.