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FTSE 100 LIVE: FTSE plunges on open as fears for long, painful recession grow

South Korean stocks fell 1.27% after authorities reported the largest number of new coronavirus cases since March.

Chinese shares erased early gains and fell 0.1% as a slower-than-expected rise in industrial production and a surprise fall in retail sales weighed on investor sentiment.

Further equity gains are likely to be limited as investors await progress in negotiations over US economic stimulus.

The mood was cautious in Asia after Chinese retail sales unexpectedly fell in July, suggesting domestic demand is still struggling after the coronavirus outbreak.

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8.10am update: FTSE opens down

Like yesterday, the FTSE 100 has started the day on a negative note, falling over 50 points on open.

After closing at 6,185 yesterday, the index has now fallen to 6,131.

This marks a loss of 0.87% in just 10 minutes.

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More to follow…

Source Daily Express :: City and Business Feed

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