Economics

The FTSE closed down 0.25% after yesterday's worst one-day fall in 16 months was followed by a volatile session today.

The UK unemployment rate fell from 6.2% to 6% in the three months to August, hitting a six-year low, according to the Office for National Statistics (ONS).

The UK's pharmaceutical sector dragged the FTSE deep into the red this morning after US giant AbbVie said it is reconsidering the planned takeover of Shire, casting doubts over elevated share prices.

The Bank of International Settlements (BIS) has warned of a potentially 'violent' market crash as financial markets are dangerously stretched.

UK CPI inflation has fallen to its lowest level in five years, undershooting estimates as the impact of falling petrol prices dragged the headline level down near to 1%.

The FTSE 100 was in the red once again today following losses around the globe overnight, with Hargreaves Lansdown and luxury goods retailers Burberry and Mulberry both taking a tumble on slowdown fears.

Hargreaves Lansdown has said the low interest rate environment will continue to impact its revenues for the remainder of the year, with the business also ruling out any further moves on price for now as investor confidence wanes.

Shares on Wall Street have recorded the worst three-day streak since 2011 after another sharp move lower overnight, with investors continuing to fret over the end of the US Federal Reserve's bond buying programme.

The UK's blue chip index has shed 100 points to drop below 6,350, hitting a fresh 12-month low at the end of a volatile week for equity markets.

JPMAM strategist Stephanie Flanders has said she is 'sombre' about the prospects for Europe and other developed markets, in a reversal of the optimism she felt at the start of the year.