• FTSE 100 plunges over 3pc in early trading, taking its cue from global stocks nosediving on fears of higher interest rates
• Dow Jones tumbles 1,100 points in biggest fall for six years
• Japan's Nikkei 225 closes down 4.7pc having earlier dropped 7.1pc
• Bitcoin sinks to $6,000, down from $20,000 in December
• Ambrose Evans-Pritchard: $22tn of money to rescue markets, but inflation threat is building

Global stocks have suffered their worst falls since the financial crisis  after a volatile final hour of trading in New York last night sapped market confidence.

Amid fears of interest rates rising quicker than had been anticipated, the bloodbath on the markets moved to Asia and Europe as stocks around the globe took their cue from the Dow Jones plunging as much as 6.2pc in intraday trade.

The FTSE 100 tumbled as much as 3.5pc on opening this morning before clawing back to a 2.5pc loss, signalling...