London blue chips tumble

Business | 11 May 2021 3:54 pm

London's FTSE 100 fell on Tuesday, in line with Asian markets, after an overnight tech sell-off on Wall Street over inflation concerns, while NatWest Group slipped as the British government cut its stake in the domestic lender, Reuters reports.

The blue-chip index slid by 1.8 percent. NatWest shed 3.3 percent after the UK government completed the sale of US$1.55 billion in its shares at a discounted price.

All the FTSE 100 constituents were trading in negative territory. Banks, travel and leisure, and miners were among the biggest losers, all down more than 2 percent each.

Globally, tech stocks took a brunt of the selling as investors braced for U.S. inflation data due on Wednesday while keeping a close eye on a host of Federal Reserve speakers this week to assess how authorities are likely to respond to receding risks posed by the pandemic in some major economies.


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