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The Foreign Exchange Hall at KEB Hana Bank Headquarters in Seoul, South Korea. A photograph: Ahn Young-joon / AP
Hello and welcome to our slippery coverage of the global economy, financial markets, the eurozone and businesses.
Growth concerns are again weighing on markets today, as the International Monetary Fund warns that the global economy remains fragile.
The IMF, whose spring meetings with the World Bank begin in Washington this week, is concerned about the slowdown in global economic expansion and its vulnerability to a painful collapse.
Tobias Adrian, head of the IMF's Monetary and Capital Markets Department, said:
"After years of economic expansion, global growth is slowing, causing concern for a deeper retreat."
IMF chief economist, Gita Gopinath, warned that a plethora of risks could lead to lower growth this year, from trade wars to a Chinese "hard landing".
She says:
Tensions in trade policy may again emerge and manifest themselves in other areas (such as the automotive industry), with major disruptions in global supply chains. The growth of systemic economies such as the euro zone and China may surprise downward, and the risks badociated with Brexit remain greater.
A deterioration in market confidence could quickly tighten financing conditions in a context of significant private and public sector debt in many countries, including the sovereign bond risks of sovereign banks.
Gopinath called on politicians to consider launching synchronized fiscal stimulus measures if these risks materialized – rather than just relying on central banks to bail them out again.
The Fund also warned that central bankers could face a new financial crisis by increasing their short-term growth rates:
The US central bank, the Federal Reserve, has also adopted a cautious tone overnight. The minutes of its last meeting showed that policy makers face "significant uncertainties" when trying to reconcile monetary policy.
Asian markets fell accordingly, as China's main markets lost 1.7% at the end of the session.
We will hear more from the IMF today when the CEO, Christine Lagarde, holds a press conference to officially open her spring meeting in Washington.
Also coming today
British business leaders and urban investors went to bed last night. enough persuaded that Britain will not escape the European Union on Friday. Today, they realized that Brexit had been postponed to Halloween … and maybe even longer.
British Prime Minister Theresa May speaking after the EU special summit on Brexit last night. Photography: Julien Warnand / EPA
After much discussion in the night, EU leaders agreed to offer the UK an extension of Article 50 until 31 October; an offer that Theresa May grasps firmly.
Britain will also be tested on its progress in June, and Brexit could still happen sooner if Parliament adopts the withdrawal bill.
Brexit pushed business leaders to the brink of frustration a few months ago. There is therefore no more appetite for uncertainty.
Carolyn Fairbairn, Director General of the IWC, implores Westminster to end the crisis.
"This new expansion means that an impending economic crisis has been averted, but it must mark a new beginning. More of the same thing will mean more chaos this fall.
"Businesses today will adjust their plans of no agreement, not cancel them.
"For the good of jobs and communities across the country, all political leaders must use their time well. A sincere multipartite collaboration must take place now to put an end to this crisis. "
L & # 39; s calendar
- 13:30 BST: Weekly unemployment figures in the United States
- 2.30 pm: Christine Lagarde, Executive Director of the IMF, at a press conference
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