The FTSE 100 index has dumped almost 3% in afternoon trading, crashing 170.7 points in the space of a couple of hours, after Wall Street took another nosedive over inflation concerns.
US stocks have tumbled to their lowest levels in two months after the government said April consumer prices increased more than economists forecast. A short while ago the FTSE 100 index closed down 2.92% or 170.7 points to 5675.5, and the only company to close without losses to its share price today was SAB Miller, the brewer, which pulled back to close flat at £10.94. Since last Thursday, the FTSE 100 has lost 430 points, or 7%, from 6137 points to today’s close. Commodity and mining firms saw the worst losses, as steel manufacturer Corus Group plummeted 26.5p or 6.55% to 378p and min...
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