MARKET REPORT

OVER £36bn was wiped off London’s blue-chip index yesterday amid a painful global sell-off.

The FTSE 100 Index ended the day down 1.9% or 138.81 points at 7,006.93, taking it to the lowest level since the end of March.

The stock market bloodbath follows the biggest drop overnight on Wall Street in eight months, with a decline of more than 830 points on the Dow Jones Industrial Average.

Investors have been sent heading for the exit on concerns over rising US bond yields, with the US’ massive borrowing looking vulnerable given the costs of servicing the debt. Mr Trump dismissed the rout as a long-overdue correction, but told reporters the US Federal Reserve was “crazy” for hiking interest rates too fast.

In London, housebuilders were among those bearing the brunt of the sell-off, with

down 12% or 67.4p at 487.8p.

was a big casualty in the FTSE 250 Index, down 11.5% or 234p at 1,800p after it unveiled an overhaul of its high street business following sliding sales and profits.

Defensive stocks, including gold and silver miners, were among a shortened list of top tier risers, with ahead 8.6% or 66.8p at 839p.

shares were down 1.6% or 9.6p at 581.8p after announcing that Aer Lingus chief executive Stephen Kavanagh will step down in January.

The biggest risers on the FTSE 100 were up 66.8p at 839p, up 440p at 5,706p, up 17p at 779.4p, and up 98p at 5,567p. The biggest fallers were down 67.4p at 487.8p, down 97.5p at 1,850.5p, down 43.2p at 849.4p, down 248p at 5,254p.

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