FTSE 100 hits one-year closing low, as Wall Street slides again - business live
(The Guardian Business News)

European markets have suffered a second day of heavy losses as new coronavirus cases are reportedLatest: Wall Street is falling sharply againFTSE 100 has shed another 138 points - lowest close in a yearLuxury industry faces $40bn lossesTrump: Markets will slump if I lose re-election bidMeggitt, Croda and Morgan warn on virus impact 6.59pm GMT Despite Kudlow´s best efforts, the Dow is now down 621 points today - knocking another 2.2% off the index. 6.56pm GMT The White House has sent Larry Kudlow, head of the National Economic Council, into action to calm the market rout.Kudlow has tried his best, telling CNBC that the US economy is `holding up nicely`.`We have contained this. I won´t say [it´s] air-tight, but it´s pretty close to air-tight,` `There will be some stumbles. We´re looking at numbers; it´s a little iffy,`But at the moment, the numbers that we´re looking at ... there´s no supply disruptions out there yet.`Larry Kudlow says US has contained the coronavirus and the economy is holding up nicely https://t.co/LJKSIghL7qThis morning´s classified coronavirus briefing should have been made fully open to the American people-they would be as appalled & astonished as I am by the inadequacy of preparedness & prevention. Continue reading...