London’s stock market today suffered its worst one-day points fall since October 2002. The main reasons for such a drop are fears of rising inflation and higher interest rates, which have spooked an already jittery market.
The FTSE 100 lost 170.7 points, or 2.9 per cent, to 5,675.5 (its worst one-day points fall since October 2002). The mid-cap FTSE 250 lost 266.3 points, to close 2.8 per cent down at 9,275.9.
It is the fifth consecutive day that UK equities have fallen. Just over a week ago, the FTSE 100 was trading at a five-year high of 6,100 and the mid-cap index topped 10,000 for the first time.
The Dow Jones Industrial Average is currently 147.7 points, 1.2 per cent, lower to 11,271.3 in New York.
The Footsieblog advises all small holders to close profitable positions now and wait until things settle down.
