Global economy woes spark share falls

Shares and oil prices around the world have seen further falls, sparked by renewed fears over the health of the global economy.

In China, the authorities intervened again on the stock market to little effect. Shares in Shanghai fell 1.5%.

And in Washington, expectations of a US interest rate rise dimmed after Federal Reserve policymakers said the economy was not ready yet.

European markets in Paris and Frankfurt were down 1% in morning trade.

London’s benchmark FTSE 100 index shed 0.5%, while the price of Brent crude oil fell 1.7% to $46.35 a barrel. US crude was down 1.4% at $40.54.