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Share markets tumble as recession fears grow

Wall Street slides 3% on trade war fears, as president Trump calls US central bank chief "clueless".

Financial markets have taken fright after the appearance of a trusted signal of an upcoming recession.

The Office for Budget Responsibility says the economy could shrink if the UK leaves the EU without a deal.

With rates set in neutral, the Federal Reserve might have less firepower to counter the next recession.

Economist have cut back estimates for fourth quarter GDP growth, while weakness is showing in the housing market and retail sales.

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