Global markets in sell-off mode

Global markets remained in sell-off mode on Friday, as investor worries sent shares in Asia, Europe and the US tumbling.

The benchmark S&P 500 index in the US is down more than 1.5%, falling almost 10% from its peak set earlier in October.

The Dow Jones is 1% down, while the Nasdaq was slumping 1.7%.

In London, the FTSE 100 retreated to levels last seen in December 2016, closing down 1.6% at 6,892.9.

October is typically a bumpy month for the markets and the falls come as investors weigh a widening mix of risks, including rising US interest rates, slowing global growth and trade tensions.

In Europe, uncertainty over Brexit and Italian debt has fuelled worries.

On Friday, France’s CAC 40 index fell 1.3%, while the Dax slipped about 1%.

Earlier, Hong Kong’s Hang Seng index lost 1.1%, while Japan’s Nikkei 225 fell 0.4%.

In the US, Friday’s steep declines were triggered by disappointing quarterly results from tech giants Amazon and Google-owner Alphabet.

On the S&P 500, Amazon was one of the biggest losers, with shares falling about 7%, after the firm forecast weaker sales growth than expected for the upcoming Christmas season.

A US Commerce Department report showing stronger-than-expected growth in the third quarter failed to bolster confidence.