US tech sell-off and report of rising prices for goods leaving China’s factories spook stock markets
Fears that central banks will have to abandon their zero-interest rate strategies in the face of mounting inflation prompted steep falls on the world’s leading stock markets on Tuesday.
In the UK, the FTSE 100 had its biggest one-day fall since February, closing down 175.69 points at 6947.99 – a drop of 2.47%. The British Airways owner, IAG, was the top faller on the City’s main share-price barometer, down 7.4%, with the engineering companies Renishaw, Melroseand Rolls-Roycealso among the the worst performers.
