Fears of a Chinese economic slowdown have caused stock markets to fall across the world. London’s FTSE 100 index closed down 4.6% (a loss of £73.75bn); major markets in France and Germany were down by 5.5% and 4.96% respectively. Wall Street’s Dow Jones fell 6%, but recovered somewhat to close at 3.6% down. In Asia, Shanghai Composite in China closed down 8.5%, its worst close since 2007 and India’s main index was down 6%.