5.02pm BST

The FTSE 100 is down around 9.8% since its recent peak of 7103 towards the end of April. So it is close to correction territory, defined as a 10% drop from recent highs.

4.57pm BST

A combination of concerns has sent investors scurrying for the exits once more. Fears about the outlook for the Chinese economy – despite a slight recovery in the country’s stock market earlier – set the tone for the day and sent commodities – metals and oil – lower once more.

US inflation figures came in much as expected, and did nothing to suggest the Federal Reserve would shy away from raising interest rates in September, another negative factor for the equity markets. Minutes from the Fed are due later.

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Source: The Guardian Circular Economy RSS