Commission says it expected Alexis Tsipras to call snap elections last night
- Latest: Brussels wasn’t surprised by resignation
- Greek left-wing MPs form new party
- Slovak finance minister chides “cynical” Tsipras
- Fitch warns of risks to bailout
And in the markets:
Investors have been running for the hills ahead of the weekend, with leading markets all recording major falls. China’s decision to devalue the yuan earlier this month set off concerns about the outlook for the world’s second largest economy and sent its market sharply lower. Since then China’s economic data has been poor, with disappointing manufacturing figures earlier proving the latest reason for investors to bail out.
On top of that there is uncertainty about when the Federal Reserve will raise US interest rates, with this week’s minutes just adding to the confusion. Worse than expected US manufacturing PMIs from Markit suggested a rate rise in September may now not happen, but markets have been unsettled by the lack of clarity.
Here’s a snapshot of the current state of play among major markets (and it’s gloomy):
Source: The Guardian Circular Economy RSS