3 years ago
The global stock markets have taken a dive after the US Federal Reserve warned that the American economy faces a long road to recovery.
In the US on Thursday, the three main share indexes saw their worst day in weeks, with the Dow Jones Industrial Average down almost 7%.
Stock markets in Asia also fell on Friday with benchmark indexes losing ground in Japan, Hong Kong and China.
The falls followed a weeks-long rally that had helped shares recover some ground from the lows seen in March.
Energy and travel stocks were among the biggest losers, as global crude oil prices also took a hit.
Earlier on Thursday, European shares also dropped, with the UK's FTSE 100, the Dax in Germany and France's CAC 40 all losing 4% or more.
Share prices had gained in recent weeks amid hopes that the economy would rebound as authorities loosened restrictions put in place to try slow the spread of the virus.
Just last Thursday, the US Labour Department reported that another 1.5 million people had filed new unemployment claims last week, an addition to 30 million that continue the benefits.
