In China, stock markets today plunged to their lowest levels in four years  following a global rout, with shares in around 1,000 firms falling to their daily limit of 10 per cent. Shanghai fell 142.38 points, marking the lowest level since November 2014.

The Shenzhen Composite Index, plummeted 89.15 points, its lowest point since September 2014. It is the second plunge this week for the Chinese mainland market after both Shanghai and Shenzhen saw a drop of nearly four per cent on Monday.

Other Asian markets also plunged today following the worst session on Wall Street for months after US President Donald Trump said the Federal Reserve has “gone crazy” with plans for higher interest rates.