Markets fall sharply amid fears of full-scale US-China currency war
Yuan devaluation latest escalation of trade war but could help offset US tariffs
Financial markets around the world have fallen sharply amid growing fears that the US-China trade dispute could escalate into a full-scale currency war, with damaging consequences for the world economy.
London-listed shares on the FTSE 100 fell by about 160 points, just over 2%, on Monday as stock markets across Europe came under sustained selling pressure, following losses on Asian markets overnight.