London’s markets tumbled as concerns over the worsening health crisis increased through the session, knocking the FTSE off course.
London’s markets tumbled as concerns over the worsening health crisis increased through the session, knocking the FTSE off course. The index had opened steadily as it was buoyed by strong figures from HSBC but was hampered by rising Covid-19 cases in continental Europe and across the Atlantic. The FTSE 100 closed 63.02 points lower at 5,728.99 at the end of trading on Tuesday. David Madden, market analyst at CMC Markets UK, said: “European stock markets sold off again as worries about the health crisis have become more entrenched. “Monday was a brutal session for equities as the jump in Covid-19 cases in Europe and the US, plus tougher restrictions, hammered traders’ confidence in the markets. “On Tuesday, things started out on a relatively quiet note, especially for the FTSE 100, but the coronavirus fears resurfaced.” Europe’s other major markets continued their poor start to the week, with French traders particularly shaken by increasing case numbers.
