Global financial crash warning: Stock markets plummet around world as Covid fears explode

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Ms Streeter added: “The immediate way the tough restrictions were imposed was a reminder of just how tied companies’ fortunes are to snap government decisions and the latest twists in the trajectory of the virus.

“This fresh fall in confidence is the last setback the industry needed given that it’s already faced with lockdowns in Europe.

“There had been high hopes of a bounce back in bookings, with Black Friday travel deals launched by airlines including British Airways and easyJet to lure people back into seats.

“But it’s going to take much more than a discounted ticket to calm nerves and restore optimism, particularly as many travellers have become weary of the rounds of cancellations they’ve experienced over the much of the last two years.’’