The UK's FTSE 100 dropped 3.5% in opening trading, with every stock in negative territory, as falls in US and Asian markets posted overnight spilled over into European markets.
Financials stocks were hit hardest as the FTSE plunged to around 7,120 points, although it has rebounded a little since and it currently trading around 7,204 at 9.20am, a loss of 1.8% on the day. Yesterday it closed 1.5% lower and it set to continue on its losing streak today as analysts fear "the worst day for markets since the Brexit vote", according to the FT. Meanwhile, the Eurostoxx 50 was down 1.63% and Frankfurt's Dax sunk 3.5%. The falls follow a tumultuous night of trading in Asia and the US as the Japan's Nikkei 225 fell 7.1% at one point, its biggest point drop since Nov...
To continue reading this article...
Join Professional Adviser for free
Signup and gain exclusive members-only insights
- Unlimited access to real-time news, industry insights and market intelligence
- Stay ahead of the curve with spotlights on emerging trends and technologies
- Receive breaking news stories straight to your inbox in the daily newsletters
- Make smart business decisions with the latest developments in regulation, investing retirement and protection
- Members-only access to the editor’s weekly Friday commentary
- Be the first to hear about our events and awards programmes
