Dressing for the Great Depression

'Awful' jobless figures out after Dow Jones suffers biggest fall in a year and analyst warns of a 'Great Depression'
  • State jobless benefit claims fall by just 6,000 to 422,000
  • Strategist sees 'near panic' among money managers
  • Fund manager says almost every recent data release on economic health has 'disappointed expectations'
  • Equities head predicts return of quantitative easing
  • Dow Jones slides and erases quarter of year's gains
  • Far East markets drop and FTSE and Dax open down
  • Manufacturing index falls to 53.5 from 60.4 in April
  • Private employers added just 38,000 jobs in May
  • Republicans press Obama for detailed plan on cuts