sell off

The latest cut came as a sell-off of German government bonds spread to other bond markets, including the UK.

The sell-off came after Germany's move this week to increase military and infrastructure spending.

In response, longer term German bonds saw their biggest sell-off in years on Wednesday, and the euro jumped to its highest level in almost four months, while stocks also rebounded.

Its launch prompted a sharp sell-off in Nvidia shares earlier this month, a hit felt throughout the market.

It also triggered a sudden sell-off of major US tech stocks, as fears mounted over America's leadership in the sector.