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FTSE 100 Plunge Continues as Markets Remain Firmly Risk Off

The FTSE 100 fell 1.8% on Monday morning as investors continued in risk-off mode amid surging oil prices and the escalating conflict in the Middle East.

The sell-off was mirrored across Europe, with Germany’s DAX down 2.5% and France’s CAC 40 falling 2.7%. The broader STOXX Europe 600 declined 2.3%.

FTSE.INDX

Markets turned sharply lower after Brent crude surged following output cuts by major oil producers amid the ongoing conflict in the Middle East.

Brent crude climbed is currntly trading around $107 a barrel, intensifying concerns about energy-driven inflation and the potential economic impact of prolonged supply disruptions.

Predictably, oil stocks were among the few bright spots in London. Oil majors Shell and BP rose 1.8% and 1.2%, respectively, benefiting from the spike in crude prices. Admiral Group also edged higher, gaining 1.2% to round out the list of the index’s top risers.

Losses were led by industrial and mining stocks. Rolls‑Royce Holdings dropped 6%, while miners Anglo American and Antofagasta fell 5.7% and 5.6%, respectively.

Travel stocks were also under pressure as higher fuel costs weighed on sentiment. International Airlines Group slid 4.4%, while low-cost carrier easyJet dropped 3.7%.

Despite its traditional safe-haven appeal, gold remains volatile, falling about 1.5% to roughly $5,096 an ounce.

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Sam Boughedda
Sam Boughedda
Team Member

Sam is a trader and lead stock market writer at AskTraders. After starting his career in the forex market, Sam now focuses on stocks, specifically consumer staples. 

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