Global markets fall and gold hits record high amid jitters over US banks

Signs of credit stress leave markets in Europe and Asia down, while investors turn to safe haven assetsBusiness live – latest updatesGlobal stock markets fell sharply and gold hit a record high after two US regional banks said they had been left exposed to millions of dollars of bad loans and alleged fraud.Signs of credit stress rattled markets across Europe and Asia. In London the FTSE 100 fell 1.5%, Germany’s Dax fell 2%, the Ibex in Spain was off 0.8% and France’s Cac 40 dropped 1.5%, before recovering some ground. Continue reading...

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