FTSE 100 closes firmly lower as inflation fears pummel markets
The UK blue chip index closed down 175 points, or 2.47%, at 6,947 on the day.
FTSE 100 loses 2.47%
Antofagasta edges higher
FTSE 100 closed sharply in the red on Friday as inflation fears spooked global markets.
The UK s top share index finished over 175 points lower, or 2.47%, at 6,947. The midcap FTSE 250 also went lower, plunging over 530 points, at 22,167.
On Wall Street, the Dow Jones Industrial Average lost over 454 points at 34,288. The S&P 500 shed over 42 points, at 4,145. The Nasdaq shed around 65 at 13,336. Inflation fears have hurt market sentiment today, as European markets maintained the pessimistic tone established in the US yesterday, said Joshua Mahony, senior market analyst at IG.