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FTSE 100 index experiences "worrying" one-day drop
28/02/2007
The FTSE 100 index has experienced its biggest one-day drop since last summer - a move described as "worrying" by one expert.
Angus Campbell, a trader at CMC Markets, told Reuters that the recent concerns surrounding the Chinese markets could have caused such a reaction.
Yesterday there were only a small number of companies which finished the day in a positive manner, according to the Financial Times.
Overall, there was a dip of 2.3 per cent, with the index opening on 6,434.7 points and closing on 6,286.1. Stocks in the mining sector experienced a particularly "aggressive sell-off", the newspaper states.
In addition to the FTSE 100's dip, the FTSE 250 index recorded its largest fall since its inception 12 years ago - it witnessed a 431 point drop.
Angus Campbell, a trader at CMC Markets, told Reuters that the recent concerns surrounding the Chinese markets could have caused such a reaction.
Yesterday there were only a small number of companies which finished the day in a positive manner, according to the Financial Times.
Overall, there was a dip of 2.3 per cent, with the index opening on 6,434.7 points and closing on 6,286.1. Stocks in the mining sector experienced a particularly "aggressive sell-off", the newspaper states.
In addition to the FTSE 100's dip, the FTSE 250 index recorded its largest fall since its inception 12 years ago - it witnessed a 431 point drop.