Fears of a fresh global recession have increased with latest data showing continued shrinkage in manufacturing levels around the world as trade war and Brexit concerns escalate.

The latest flare-up in the US-China trade war, heralded by what we now expect as the norm by way of a tweet from US president Donald Trump, was as unexpected as it was pointless.

Bond yields have tumbled globally in the past month in the latest leg to the rally that commenced last autumn.

Let’s recap the travesty that has unfolded over the past couple of days.

The euro went lower as ECB head Mario Draghi shaved the growth outlook for the eurozone economy, which may signal that the first interest rate hike since the crisis may be delayed, market watchers said.