Markets hit by US interest rate rise worries as IMF sees turbulence ahead – as it happened | Business

The Nasdaq composite index slipped by as much as 4% in early trade, before stemming some losses and is down by around 10% from its November high. Apple retreated further away from the nascent 3 trillion dollar club, falling 2%.

Chip maker Nvidia and Mastercard registered falls of more than 5% before recovering slightly. Amazon joined the downward trajectory, slipping by 3.6% in early trade.

On the FTSE 100, Scottish Mortgage Investment Trust, which holds a raft of tech darlings like Tesla, Nio and Amazon was among the biggest fallers amid concerns the tech juggernaut is slowing. With other companies in the big data and payments space slipping back, information analytics firm Experian fell lower, ending the day down by more than 5% .