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| FTSE 100 falls following dramatic sell-off across Asia and US | FTSE 100 falls following dramatic sell-off across Asia and US |
| (35 minutes later) | |
| London’s FTSE 100 slipped on Friday morning after yet another fierce sell-off across US and Asian stocks, fuelled by concerns that global interest rates may rise faster than previously expected. | London’s FTSE 100 slipped on Friday morning after yet another fierce sell-off across US and Asian stocks, fuelled by concerns that global interest rates may rise faster than previously expected. |
| In early trading, the UK’s benchmark stock index fell by around 0.5 per cent having already suffered a more than 1 per cent fall on Thursday after the Bank of England held interest rates steady at its regular policy meeting but indicated that they may rise again soon. | |
| That sent the pound sharply higher, which in turn weighed on equities. A vast proportion of FTSE 100 revenues are generated outside of the UK meaning that a strong pound tends to send the index lower. | |
| Elsewhere, China’s main stock index fell by just over 4 per cent overnight after the US’s Dow Jones Industrial Average declined 4.1 per cent on Thursday and the S&P 500 lost 3.7 per cent. Earlier in the week the Dow was hit by a record 1,175-point loss triggered by better than expected US jobs data last Friday that sent US bond yields higher. | |
| More follows… | More follows… |