‘Fear trumps’ as shares hit their lowest levels since September 2013

The relief rally that swept through Europe’s stock markets this week came to an abrupt halt, as shares slid for the eighth time in nine days and hit their lowest levels since September 2013.

However, a growing number of experts at home and abroad are starting to question that regardless of any slowdown facing the world economy, the scale of the stock market rout since the start of the year was not justified.

The rout for European banks spread to Société Générale amid growing concern that central banks are powerless to stem a slowdown in the global economy.