FTSE 100 Live: Stocks to sink as tech rout deepens; oil below $100
Welcome back to City AM‘s FTSE 100 liveblog. It’s Friday morning and London’s blue-chip index is shaping up for another big loss after the tech rout deepened on global markets overnight. South Korea’s Kospi index tumbled more than five per cent and saw a halt in trading on the exchange, while Japan’s Nikkei 225 index [...]
Welcome to the FTSE 100 liveblog on City AM. It's Friday morning and the blue-chip index is set to record another significant loss following a deepening tech rout on global markets overnight. South Korea's Kospi index suffered a more than five percent drop, leading to an exchange halt, while Japan's Nikkei 225 index declined by around six percent.
Taiwan's benchmark Taiex index also saw a drop of just over six percent. These drastic declines follow the Nasdaq's five percent drop, triggered by major sell-offs in AI-related stocks and chipmakers. Meanwhile, oil prices slipped below the $100 per barrel mark, on track for a weekly loss of over 11 percent. This decline is attributed to optimism over a possible quicker resolution to the Middle East conflict following a Democratic victory in the US midterm elections. Stay tuned for the latest economic and business news and updates.
Written by urgent.news from City AM's reporting — not their text. Machine-written — may contain errors; check the original before relying on it.
