FTSE 100 Down 3.4% As The Lockdown Fears Get Firm

FTSE-100-Down-3.4%-As-The-Lockdown-Fears-Get-Firm

On Monday, the UK blue-chip index, FTSE 100, fell 3.4% marking its worst day in three months, reaching its two week low. IAG, owner of British Airways, declined 12.1% as news circulated about PM Boris Johnson mulling over a second lockdown restriction to curb the massive coronavirus cases surge.

FTSE 250 index plunged 4%, with restaurant, café, and pub owners slumping most on lockdown fears, marking the mid-cap share index’s 7 week low point. Travel & leisure share index declined 5.2%, making it worse for the already biggest loser of 2020.

Meanwhile, FTSE banking index tumbled another 5.3% as media channels posted UK lenders transferred massive amount in allegedly illicit manner despite red flags about the sources of the funds over a period of two decades. The lender included HSBC, Barclays, and Standard Chartered Bank.

HSBC tumbled 5.3%, despite trading at decade lows, Barclays slumped 5.4%, and Standard Chartered declined to its lowest since 1998, falling 6%. Rolls Royce, the aero-engine maker, also lost 10.8%, trading at its lowest since 2004, after the firm reported considering a rights issue worth 2.5B pounds.

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