London's FTSE 100 drops as U.S. recession fears spark global sell-off
For a Reuters live blog on U.S., UK and European stock markets, click LIVE/ or type LIVE/ in a news window
FTSE 100 down 1.9% , FTSE 250 off 3%
Benchmark index set for worst day since March 2023 amid broader declines
John Wood Group plummets after Sidara walks away from buyout
Aug 5 (Reuters) -London's FTSE 100 plunged over 1.5% on Monday to hit their lowest in over three months, as recession fears in the United States triggered a global sell-off.
By 0722 GMT, the blue-chip FTSE 100 index .FTSE fell 1.9% to its lowest since April and on track for its worst day since March 2023.
Meanwhile, the mid-cap FTSE 250 index .FTMC was off 3%, after clocking its worst day since September 2022 in the previous session.
Friday's data showed a sharp slowdown in U.S. job growth, heightening fears of a deterioration in the American labour market and a potential recession, pushing investors to raise bets on a half-point cut in September by the Federal Reserve to rescue the economy.
"A lot of it comes from faith that the Federal Reserve has gone a little bit too far with its monetary policy in terms of keeping rates restrictive for too long. That negative sentiment has spilled over into other markets," said Daniela Hathorn, senior market analyst at Capital.com.
In London, most sub-sectoral indexes trended lower. Automobile and parts .FTNMX401010 were the worst hit with a 3.9% decline, while precious metal miners .FTNMX551030 trended 3.2% lower despite a firming in gold prices. GOL/
Financial stocks like banks .FTNMX301010 and life insurers .FTNMX303010 declined 3.1% and 3.7% respectively.
"If we do see a recession, banks get hit quite hard because people start to take out less loans," Hathorn added.
Energy shares .FTNMX601010 also fell 2.7% , as recession fears in the U.S. pushed oil prices lower. O/R
On the data front, domestic manufacturing activity numbers are due later in the day, in an otherwise data-light week.
John Wood Group WG.L fell over 37% to the bottom of the FTSE 250 after Dubai's Sidara said it was walking away from its plan to buy the British oilfield services and engineering firm.
Reporting by Purvi Agarwal in Bengaluru; Editing by Nivedita Bhattacharjee
For related prices, Reuters users may click on - * UK stock report .L FTSE index: 0#.FTS6 techMARK 100 index: .FTT1X FTSE futures: 0#FFI: Gilt futures: 0#FLG: Smallcap index: .FTSC FTSE 250 index: .FTMC FTSE 350 index: .FTLC Market digest: .AD.L Top 10 by vol: .AV.L Top price gainers: .NG.L Top % gainers: .PG.L Top price losers: .NL.L Top % losers: .PL.L * For related news, click on - * UK hot stocks: HOT and GB Wall Street: .N Gilts report: GB/ Euro bond report GVD/EUR Pan European stock report: .EU Tokyo stocks: .T HK stocks: .HK Sterling report: GBP/ Dollar report: USD/ * For company prices, click on - * Company directory: UKEQ By sector: FTAX * For pan-European market data, click on - * European Equities speed guide................ EUR/EQUITY FTSE Eurotop 300 index........................... .FTEU3 DJ STOXX index................................... .STOXX Top 10 STOXX sectors........................ .PGL.STOXXS Top 10 EUROSTOXX sectors................... .PGL.STOXXES Top 10 Eurotop 300 sectors.................. .PGL.FTEU3S Top 25 European pct gainers.................... .PG.PEUR Top 25 European pct losers..................... .PL.PEUR
Mga Kaugnay na Asset
Pinakabagong Balita
Disclaimer: Ang mga kabilang sa XM Group ay nagbibigay lang ng serbisyo sa pagpapatupad at pag-access sa aming Online Trading Facility, kung saan pinapahintulutan nito ang pagtingin at/o paggamit sa nilalaman na makikita sa website o sa pamamagitan nito, at walang layuning palitan o palawigin ito, at hindi din ito papalitan o papalawigin. Ang naturang pag-access at paggamit ay palaging alinsunod sa: (i) Mga Tuntunin at Kundisyon; (ii) Mga Babala sa Risk; at (iii) Kabuuang Disclaimer. Kaya naman ang naturang nilalaman ay ituturing na pangkalahatang impormasyon lamang. Mangyaring isaalang-alang na ang mga nilalaman ng aming Online Trading Facility ay hindi paglikom, o alok, para magsagawa ng anumang transaksyon sa mga pinansyal na market. Ang pag-trade sa alinmang pinansyal na market ay nagtataglay ng mataas na lebel ng risk sa iyong kapital.
Lahat ng materyales na nakalathala sa aming Online Trading Facility ay nakalaan para sa layuning edukasyonal/pang-impormasyon lamang at hindi naglalaman – at hindi dapat ituring bilang naglalaman – ng payo at rekomendasyon na pangpinansyal, tungkol sa buwis sa pag-i-invest, o pang-trade, o tala ng aming presyo sa pag-trade, o alok para sa, o paglikom ng, transaksyon sa alinmang pinansyal na instrument o hindi ginustong pinansyal na promosyon.
Sa anumang nilalaman na galing sa ikatlong partido, pati na ang mga nilalaman na inihanda ng XM, ang mga naturang opinyon, balita, pananaliksik, pag-analisa, presyo, ibang impormasyon o link sa ibang mga site na makikita sa website na ito ay ibibigay tulad ng nandoon, bilang pangkalahatang komentaryo sa market at hindi ito nagtataglay ng payo sa pag-i-invest. Kung ang alinmang nilalaman nito ay itinuring bilang pananaliksik sa pag-i-invest, kailangan mong isaalang-alang at tanggapin na hindi ito inilaan at inihanda alinsunod sa mga legal na pangangailangan na idinisenyo para maisulong ang pagsasarili ng pananaliksik sa pag-i-invest, at dahil dito ituturing ito na komunikasyon sa marketing sa ilalim ng mga kaugnay na batas at regulasyon. Mangyaring siguruhin na nabasa at naintindihan mo ang aming Notipikasyon sa Hindi Independyenteng Pananaliksik sa Pag-i-invest at Babala sa Risk na may kinalaman sa impormasyong nakalagay sa itaas, na maa-access dito.