The US stock market suffered its worst start to the year since the global financial crisis.
The threat of rising interest rates, slowing corporate earnings growth and simmering geopolitical tensions led to the biggest monthly decline for the S&P 500 since the onset of the coronavirus pandemic and the weakest January since the depths of the global financial crisis in 2009.
Technology stocks bore the brunt of the selling. The tech-heavy Nasdaq Composite index fell 9 per cent, its worst one-month decline since November 2008. It was a record set of results from Apple that halted the sell-off, preventing the S&P 500 from recording its worst January sell-off on record.
Looking further afield, the FTSE All-World index had its worst start to a year since 2016 when markets were upset by concerns…