Market turmoil: Shanghai sinks 4%, DAX off 1%

Global investment markets were hit hard sparked fears of a hard landing for the world's second largest economy.

The Shanghai Composite slid 4.3 percent on Friday, with investors fleeing to so-called "safe haven" assets like U.S. Treasurys.

Bourses in Europe saw triple-digit losses at the open and the U.K.'s FTSE 100 has already entered a technical correction this week.

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