London and US shares slide

The London market sunk deeper into the red yesterday as shares in Kingfisher dropped and investor enthusiasm for the US president’s promised banking and tax reforms started to wane.

The FTSE 100 Index closed down 53.62 points at 7,324.72.

US markets struggled to recover after Tuesday’s sell-off, which saw the S&P 500 post its biggest one-day loss since October. Investors have started to question whether key aspects of President Donald Trump’s agenda will be delayed.

The Dow Jones Industrial Average was down 0.2% yesterday.

Shares in B&Q owner Kingfisher fell more than 5%, or 17.6p to £3.28 in London after it warned trading could be hit by political uncertainty triggered by Brexit and the French presidential elections.

Airline shares were trading lower amid plans to introduce security measures banning laptops from being carried in cabin luggage.