FTSE falls to three-year low on fresh oil drop

Fed rate hike also causing investor jitters

Equity and bond markets have had another rocky start to the week as the oil price fell to fresh lows and nervousness surrounding the impending Federal Reserve rate hike hit investors.

The FTSE 100 is poised to record its worst month since the height of the financial crisis as The Telegraph revealed more than £124bn has been wiped off the index over the past two weeks - a fall of 7.8%. Yesterday the blue chip index closed down 1.3% to trade at 5,874 points, its lowest level since December 2012, due to another large drop in oil price. The price of brent crude touched a new seven-year low of $36.33 a barrel amid expectations global supply will continue to outstrip demand. Members of OPEC are likely to call an emergency meeting as some speculated the commodity could fa...