FTSE 100 Down 1.25%; Bank, Miners Among Major Losers
(RTTNews) - The U.K. stock market's benchmark FTSE 100 is down sharply in negative territory on Tuesday, extending losses to a fourth straight session, with several counters across various sectors seeing a sell-off amid concerns about the outlook for global economy.
Rising worries about AI bubble, uncertainty surrounding the Federal Reserve's upcoming policy moves, and concerns about the potential impact of U.S. tariffs on global economic growth appear to be weighing on investor sentiment.
The FTSE 100, was down 120.72 points or 1.25% at 9,554.71 a few minutes before noon.
Bank stocks Standard Chartered, HSBC Holdings and Barclays are down 3.2 to 3.5%. Natwest Group and Lloyds Banking Group are down 2.7% and 2.4%, respectively.
Anglo American Plc is down 3.7%. Convatec is down 3.6% and IAG is down 3.1%, while Fresnillo and Antofagasta are down nearly 3% from previous closing levels.
Schroders, WPP, Prudential, Rio Tinto, Diageo, 3i Group, Mondi, Airtel Africa, Glencore and Rolls-Royce Holdings are also down sharply.
ICG is gaining nearly 6% on stronger than expected earnings. Imperial Brands is gaining 2.7% after reporting an increase of nearly 5% in annual adjusted operating profit.
Rightmove, BAE Systems, Sainsbury (J), AstraZeneca, British American Tobacco and Centrica are up with modest gains.
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