More than £50 billion wiped off UK blue chips

Tuesday, September 22, 2020

Shares in London have had their worst losses in more than three months on Monday amid fears that a second wave of coronavirus patients will force the government into harsh lockdown measures that will damage the economy, The Guardian reports.

The FTSE 100 – the leading benchmark of the UK stock market – closed more than 200 points or 3.4 percent down at 5,804 points on a day of sharp falls in equities in both Europe and North America.

More than £50 billion  was wiped off the value of leading UK-quoted companies as hopes of new treatments for the virus were outweighed by concerns about a double-dip recession.

Larry Kudlow, Donald Trump’s economics adviser, expressed the views of many jittery investors when he said there was a worry that the UK and other parts of Europe may shut down again because of the virus.-Photo: Guardian/PA