Woodford: Aggressive sell-off in equities almost over

Thursday saw the FTSE 100 slide another 0.3% following its worst-one day fall in 16 months on Wednesday, leaving the index down 8.8% in a month. Global indices have followed a similar path, with the S&P 500 down 6.8% in the US in the last month, and Germany's DAX down 10.9%. Asian equity markets have not escaped unscathed, with the Nikkei also off 8.5%, and Hong Kong's Hang Seng off 5.4%. Woodford told investors the "crisis" in equity markets represents a reappraisal of the global economic outlook: "This readjustment of asset prices is arguably quite rational," he said. "My gut ...