'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