Markets sell off on weak US jobs data

Weak US jobs data has caused panic in global markets and forced US Treasury yields to fall to yet another record low.

Bureau of Labor Statistics data revealed unemployment rose unexpectedly in May, to 8.2%, from 8.1% in April. The number of unemployed grew to 12.7 million. The data , widely seen as a key indicator of the economy's recovery, has spooked already nervous markets, fuelling fears of a global economic slowdown. The news forced UK shares down to day lows, with the FTSE 100 down 1.64% at 5,223.83, a six-month low. Yields on 10-year US Treasuries also plummeted to 1.44% after the news, the lowest ever level recorded. This is substantially lower than the previous record of 1.67% that was...