FTSE 100 movers: Just a bunch of losers as stocks slide
The FTSE 100 was down 2.1% to 7,179.18 in afternoon trade on Tuesday following a bloodbath in US and Asian stocks, amid concerns that rising inflation will force the Fed to hike rates more than initially expected this year.
With heavy losses across the board, there were no risers to speak of on the top-flight index, although London Stock Exchange managed to keep losses to a minimum after an upgrade to 'overweight' at JPMorgan.
Mike van Dulken, head of research at Accendo Markets, said: "Equities remain offside, albeit off their worst levels, as investor digest what has become a global rout and the return of volatility.
"Deciphering continues as to whether this is merely an overdue technical correction from overbought markets, with economic and corporate fundamentals considered solid in the face of rising interest rates. Others wonder if we are seeing he early stages of a more significant unwind following years of central bank stimulus, low volatility and classic optimism-fuelled complacency."
Hargreaves Lansdown was under the cosh even as it said interim pre-tax profit rose 12% to £146.9m and lifted its dividend by 17% to 10.1p per share. The financial services company also said it now has 1,015,000 active clients - an increase of 61,000 since 30 June.
Fallers
Hargreaves Lansdown (HL.) 1,744.50p -4.75%
Scottish Mortgage Inv Trust (SMT) 423.40p -4.68%
Evraz (EVR) 350.40p -4.60%
Mediclinic International (MDC) 561.60p -3.90%
Rentokil Initial (RTO) 277.50p -3.81%
Standard Chartered (STAN) 781.20p -3.75%
Schroders (SDR) 3,499.00p -3.74%
G4S (GFS) 261.40p -3.61%
Standard Life Aberdeen (SLA) 402.30p -3.59%
BAE Systems (BA.) 565.20p -3.42%