“Price action had long since detached from any sane discussion on debasement, but it often takes only a small ripple to trigger a broader correction,” noted Deutsche Bank’s Jim Reid.

Analysts flagged U.S. President Donald Trump’s nomination for the next chair of the Federal Reserve as a key trigger to the latest market downturn.

“Price action had long since detached from any sane discussion on debasement, but it often takes only a small ripple to trigger a broader correction,” noted Deutsche Bank’s Jim…