After touching 14 months of fresh heights on Monday, the FTSE 100 fell below 7,000 as it fell 2.16% during the morning session.
“This was employed by a slash due to a tough reversal from the previously floating mining sector,” said Conor Campbell, financial analyst at Spreadex.
The slow collapse from the Nasdaq led to a nasty session for Nikko to get off to a very rough start in Europe on Tuesday.
“Tech Slide not only gave Nasdaq on the worst day since March, but also prevented Dow Jones from surpassing 35,000 for the first time in history,” Campbell said.
Advances on Wednesday’s US CPI reading, investors’ fears of inflation appear to have been rekindled with a surge in commodity prices. “It would be interesting to see how reassuring the market is if the number on Wednesday fell from 0.6% to 0.2% as a forecast,” he added.
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The DAX decline was equally severe, with a 1.7% drop knocking back below 15,200 for the first time in five days. And we found that CAC was down 1.6%, which is below 6,280.
FTSE 100 Top Moving Company
On Tuesday, the companies listed on the FTSE 100 were not making positive profits. At least the declines were RSA insurance (-0.044%), Pearson (-0.21%) and just eating (-0.28%).
Meanwhile, the biggest waterfalls that day have ever been the Line Show (-6.22%), IAG (-5%) and Melrose Industry (-4.65%).
Nut waist
The government continues to sell banks rescued more than a decade ago, and is aiming to protect buyers of Natwest stock worth up to £1.1 billion.
FTSE 100 Bank’s 580m shares were offered to institutional investors as part of a placement to reduce government holdings to 54.8%. In early morning trading, Natwest stock came out via Sky News yesterday, causing the stock to fall.
