Scoreboard: Growth gloom

Markets on both sides of the Atlantic tumbled on diminished global growth expectations and disappointing US retail sales data.

In US economic data, retail sales fell by 0.9 per cent in December, well below expectations for a 0.1 per cent fall. Excluding gas stations and autos, sales were down 0.3 per cent. Import prices fell by 2.5 per cent in December and export prices fell by 1.2 per cent.

The Federal Reserve Beige Book reported that manufacturing and consumer spending expanded in most districts in November and December.

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