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5 August 2024 • 8:25am
8:25AM
FTSE 100 suffers worst day in a year
The FTSE 100 has plunged in early trading after the global stock market rout deepened, with Japan’s Nikkei 225 index suffering its worst day since 1987.
London’s blue-chip index was as much as 2.2pc down after the open on Monday, losing as much as 177 points to hit 7,997.61, with equities across the board falling into the red.
It is the sharpest fall in London’s benchmark index since July last year.
It comes after US jobs data sparked a global market sell-off at the end of last week, after investors were spooked at the prospect of a potential American recession.
Analysts said that they feared the US Federal Reserve had made a mistake by not cutting interest rates last week, and might now be too late to hold off a recession.
Japan’s Nikkei lost nearly 13pc on Monday to hit a seven-month low in its worst trading day since Black Monday.
https://www.telegraph.co.uk/business/2024/08/05/ftse-100-latest-updates-global-stocks-plunge-index-japan