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FTSE falls 6% as investors call time on three-day rally

FTSE falls 6% as investors call time on three-day rally

Stock markets have endured a renewed rout in values as investors fret over the extent of coronavirus damage expected to be inflicted on the global economy.

The brakes were firmly applied on Friday after a three day rally for major indices in Europe and the United States which had raised hopes, in some quarters, that the worst was over after five weeks of turmoil.

The collapse began as COVID-19 took hold in Europe and losses on Monday, over the year to date, averaged more than 30% for the likes of the FTSE 100 and Dow Jones Industrial Average.

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