LONDON (Reuters) - World stock markets nosedived for a fourth day running on Tuesday, having seen $4 trillion wiped off from what just eight days ago had been record high values.
Europe's main bourses started down as much as 3 percent, leaving investors with little option but to seek the traditional refuges of gold, the Japanese yen [FRX/] and one of the initial triggers for the selloff - benchmark government bonds.
Wall Street futures offer a chink of light as they turned higher but commodities suffered too, with oil and metals all tumbling backwards as what had been one of their best starts to a year also soured rapidly.
"Playtime is officially over, kids," analysts at Rabobank said. "Rising volatility painfully reminds some investors that one-way bets don't exist."
The stock selloff had been viewed by some as a healthy correction following their rapid rise over the last year but, as it snowballed through Asia and then Europe, nerves were starting to fray.
By Marc Jones.
Full story at Yahoo News.
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