FTSE drops 3% as global sell-off expands into Europe

Dow Jones closed 4.6% lower

Natalie Kenway
clock • 3 min read

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

  • 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

Join

 

Already a Professional Adviser member?

Login

More on Economics / Markets

'Discussion-worthy stuff': Chinese assets under pressure

'Discussion-worthy stuff': Chinese assets under pressure

China has an 18% share of global GDP and only a 3% MSCI ACWI weighting

Chris Justham
clock 02 April 2024 • 2 min read
Why investors 'can't outrun' slow-moving demographics

Why investors 'can't outrun' slow-moving demographics

'Demographic change is a key megatrend'

Darius McDermott
clock 07 March 2024 • 5 min read
Spring Budget 24: Ten key takeaways from Jeremy Hunt's speech

Spring Budget 24: Ten key takeaways from Jeremy Hunt's speech

British ISA, Office for Budget Responsibility, tax cuts

Valeria Martinez
clock 07 March 2024 • 4 min read