Global stock markets dive as fears of Ukraine conflict rattle investors

European markets slide to lowest levels since October, while New York sees wild trading session

Global stock markets have fallen sharply as fears of military conflict in Ukraine spooked investors, wiping 53bn off the value of the UK's blue-chip share index.

European markets tumbled by 3.8% to their lowest levels since October, their biggest one-day fall in more than 18 months, after Nato said it was reinforcing its eastern borders with land, sea and air forces as a Russian invasion of Ukraine appeared increasingly likely.