Tobacco, travel and hospitality stocks lead fallers on the FTSE 100 index, as European markets have worst day this year
- Latest: FTSE 100 dives 2%
- Europe-wide Stoxx 600 fell 1.9%, worst fall since last December
- Shares in travel and hospitality firms down amid Covid-19 worries
- Japan’s Nikkei fell 2% today as cases rise
- WSJ: US considering cutting nicotine levels in cigarettes
Earlier:
- Vacancies up 16% in March, ONS say
- UK jobless rate falls to 4.9% in December-February
- Younger workers have suffered most job losses
The FTSE 100 fell sharply on Tuesday, taking it back below 7,000, as global markets were dragged lower by growing investor concern over the Indian variant of Covid-19 and sliding tobacco shares.
The blue-chip index dropped by 2% or 140 points to close the day at 6,860, led by the British Airways owner, IAG, amid fears over renewed travel restrictions and as shares in major tobacco firms fell on the prospect of tougher rules being introduced by the Biden administration.
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The City regulator has warned social media sites that it may take action if they continue to promote risky and sometimes fraudulent investments to often inexperienced consumers.
The Financial Conduct Authority is concerned about the growing influence that sites such as YouTube, Instagram and TikTok are having on a new breed of mainly younger DIY investors, whom it believes are taking big financial risks when investing in cryptocurrencies, foreign exchange trading and other high-risk products.
“If needed, we will take action.”
Related: Social media sites warned over risky investment offers
