Global markets fall amid pessimism over soaring Covid-19 cases | Stock markets
Stock markets have fallen across the world amid deepening pessimism over a rise in Covid-19 infections, with £44bn wiped off the value of the FTSE 100 index of the UK’s leading companies on what some have called “freedom day” from pandemic restrictions in England.
The prospect of slowing global growth resulted in most stock markets across Europe experiencing significant falls, after a slide in Asia overnight that came when Indonesia reported an increase in cases and some athletes tested positive at Tokyo’s Olympic village, with the Games due to open on Friday.
In the UK the FTSE 100 closed down 2.4% at 6,844 points, its biggest one-day fall since 11 May and its lowest close since early April.
In the process, £44bn was wiped off the value of FTSE 100 companies, with ITV the biggest faller, down 6.6% on fears that advertising revenues will be hit by any stalling in the UK’s…