The OECD has warned the UK is teetering on the edge of a double-dip recession, and has called for further quantitative easing to support the economy.
The Fidelity South East Asia fund manager warns share prices and currencies are pricing in a crisis scenario despite solid fundamentals.
The OECD has urged global economies, particularly Europe, to take "credible steps" to curtail debt as it said the recovery has ground to a halt.
Growth in the UK has deteriorated for the sixth consecutive month while the global recovery has peaked, according to the Organisation for Economic Co-operation and Development (OECD).