Global manufacturing slowdown sends stock markets tumbling

Manufacturers react to surveys showing declining orders by slashing production and jobs

Strong signals that a slowdown in global manufacturing intensified in September sent stock markets tumbling on Wednesday, as leading indices in Europe and the US retreated.

In London the FTSE 100 rolled back all the gains made since mid-August as it dropped 237 points to 7,122, falling 3.2% in its biggest one-day fall since 2016. Extending the losses overnight on Asian markets, shares on continental European markets also experienced losses with the Paris CAC falling 3.1% to 5,422. The Dow Jones index in New York compounded its decline on Tuesday by falling close to 500 points on Wednesday, or 1.86%.