Proactive Investors - The FTSE 100 has been tipped to extend its losses on Wednesday morning after a sharp fall on Wall Street overnight.
After climbing higher than its record closing level yesterday morning but finishing on the slide, London's blue-chip index lost 17.5 points to finish at 7,935.09 and is currently expected to fall another 32 points, according to spread-betting platforms.
Overnight, US stocks also stumbled, with all three of the major indices retreating: the Dow Jones down 1%, Nasdaq dropping 0.95% and the S&P 500 falling 0.72%. Most of the tech titans ended lower, led by Tesla and Nvidia (NASDAQ:NVDA).
The sell-off is continuing in Asia this morning, with almost all markets in the red.
Turning back to the UK, there's more inflation data this morning, from the hospitality industry this time, which is also easing but remains well above other industries.
The level of food inflation in hospitality was 12% in March, according to the CGA Prestige foodservice price index, which also recorded month-on-month deflation for only the second time in 28 months and the first time since October.
"This signals a welcome steadying of markets, but whether it marks the start of much-needed longer-term stability remains to be seen," CGA said.
Year-on-year inflation remains in double digits in eight of the ten categories of the index, with oils & fats the only one in deflation.