No let-up of oil low as global fears of recession haunt markets again

Amid mounting concerns about the risks of a global recession, European shares and oil headed lower again yesterday.

In the US, declines in banks and technology stocks have weighed on equities in the market’s latest rout, the worst for the Nasdaq Composite Index since August.

The gauge briefly rebounded yesterday after approaching a bear market, closing Monday down 18% since its record last July.