FTSE 100 - live updates: Share prices tumbles after worst day for US stocks in more than six years

People look at an electronic board showing Japan's Nikkei average outside a brokerage in Tokyo, Japan, 6 February, 2018 REUTERS/Toru Hanai

Markets around the world are suffering heavy losses after US stocks suffered their worst falls in more than six years.

The Dow Jones Industrial Average Index fell 1,175 points, or 4.6 per cent, to close down at 24,345.75 on Monday.

The mass sell-off was triggered by concerns interest rates were about to be raised.

Following the US, Japan’s Nikkei 225 index plunged as much as 7.1 per cent, but recovered some of those losses to close down 4.7 per cent at 21,610.24 on Tuesday.

And when it opened on Tuesday morning the FTSE 100, which is the US’s benchmark stock index, fell steeply, mirroring similar losses across European markets.

President Donald Trump has taken credit for the good performance of US stock markets since he was elected President in November 2016.

But Monday saw the largest decline for the Dow since August 2011, when markets dropped in the wake of “Black Monday” — the day Standard & Poor’s downgraded the US’ credit rating.