Stock markets across Europe and Asia tumbled on Monday, spooked by fears that the US economy is heading for a slowdown.

In London, the FTSE 100 index opened 2.3% lower while the Euronext 100 tumbled by 3.5%.

They followed sharp falls across Asia with Japan’s Nikkei 225 dropping 12.4% or 4,451 points in the biggest fall by points in history.

It follows weak jobs data in the US on Friday which sparked concerns about the world’s largest economy.

Meanwhile, the yen has been strengthening against the US dollar since the Bank of Japan raised interest rates last week, making stocks in Tokyo more expensive for foreign investors.

Stock markets in Taiwan, South Korea, India, Australia, Hong Kong and Shanghai all tumbled.