FTSE 100 Tumbles On Interest-rate Concerns
(RTTNews) - U.K. stocks tumbled on Thursday as a continued sell-off in bond markets stoked concerns about the outlook for interest rates and economic growth.
U.S. Treasury yields jumped to 16-year highs as investors await Fed Chair Jerome Powell's speech in New York later in the day for additional clues on the Fed's rate trajectory.
The benchmark FTSE 100 was down 73 points, or 1 percent, at 7,514 after declining 1.1 percent in the previous session.
McBride shares jumped 22 percent. The household and personal products business said that the favorable trading environment and momentum of the second half of fiscal 2023 has continued into the first quarter of fiscal 2024.
Retail-investment platform Hargreaves Lansdown slumped 4.6 percent after new client growth slowed during the first quarter. Gold miner declined 2.4 percent after pretax profit and revenue fell in the third quarter.
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