FTSE 100 tumbles 2.2% in New Year session as China suspends trading

Shanghai Composite index plummets 7%

The FTSE 100 suffered a tough start to 2016 today, following the suspension of trading on China's Shanghai Composite index as shares plunged 7% in the first session of the year.

The UK's blue-chip index was down to 6,106 by 11.40am as a new system in China, introduced to curb volatility after last August's Black Monday sell-off, led trading to be initially halted for 15 minutes after the stockmarket fell by 5%. However, shares continued to drop and regulators then ended trading early, according to the BBC. The index closed down 6.9% to 3,296.66. It was subsequently followed by other Asian indices such as the Hong Kong Hang Seng, down 2.8%, and the Nikkei 225, which closed 3.1% lower. Other European indices have also suffered a difficult start to 2016, with...