Hopes for a swift global recovery suffered a jolt yesterday as freezing winter weather contributed to a sudden drop in spending and confidence across several advanced economies.
Although policymakers predicted a bumpy rebound in global economic health, the raft of negative data in the US and Europe confounded analysts' predictions and halted gains in equity markets.
At the close of trading in London, the S&P 500 index had fallen by almost 1 per cent to 1,097, the FTSE 100 index was off 0.7 per cent at 5,315 and the Eurofirst 300 index was down 1.3 per cent at 1,010.
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