The unexpected action is intended to tamp down a potential bubble in the bond market fueled by investors shunning riskier assets like stocks and real estate.

China's central bank said on Friday it has suspended treasury bond purchases, triggering a jump in yields and spurring speculation that the move was aimed at defending a falling currency.

China’s central bank has hit pause on government-bond purchases, citing excess demand. The People's Bank of China has already moved to support the country's flagging currency, through sett

The value of the pound fell to its lowest level in over a year while UK borrowing costs jumped to their highest since the financial crisis

The chancellor Rachel Reeves is under pressure to cancel a controversial trip to China as the UK economy faces another tumultuous day on the markets. Shadow home secretary Chris Philp blamed Labour for the soaring cost of government borrowing and said she “should stay in the UK fixing the mess her Budget has created”.