Fears that the US is about to drag the rest of the world into a double-dip recession gripped investors by the throat this week, plunging markets into a dark frame of mind. It was a shocking week for equities, which plummeted on a slew of bad news. The FTSE 100 closed at 4838.09 on Friday, up 0.7% on the day but down 4.1% on the week. The German DAX was 4% lower on the week, while France's CAC 40 and the US Dow Jones were both down 4.9% after a week to forget. "Markets seem to be in the mood to worry, as they contemplate what the second half of 2010 will bring," said Ian Harwood of Evolution Securities. There are concerns too that growth in China is slowing and may not be able to provide sufficient support to the rest of the world. And lastly, while the fevered panic over the eurozone debt crisis, impending austerity, and social unrest has abated, anxiety has not been erased. The bad news from the US this week included a nasty drop in consumer confidence; a fall in US non-farm payrolls; and plunging home sales. The UK, reliant on world trade to give its fragile recovery wings as it embarks on an eye-watering fiscal squeeze, would inevitably be pulled down with the US if a renewed slump took hold. Daily Telegraph, p36