Financial crash LIVE: Nikkei collapses – Bitcoin plunges | World | News

Japan’s stock market suffered its worst-ever loss on Monday following weak US jobs data from the end of last week.

The benchmark Nikkei 225 finished more than 12 percent down suffering its worst day since 1987 and hitting a seven-month low.

London’s blue-chip index was 2.4 percent down after the open on Monday falling 193 points to 7,982, in its sharpest fall since July last year. Bitcoin has also been affected failing below $50,000 (£39,000).

It comes after US jobs data sparked a global market sell-off at the end of last week after investors were spooked at the prospect of a potential American recession. The sell-off is believed to have wiped trillions of dollars off of global markets.

Analysts said that they feared the US Federal Reserve had made a mistake by not cutting interest rates last week, and might now be too late to hold off a recession.

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