Proactive Investors - The FTSE 100 is set to open lower today following heavy falls in the US and as yesterday’s inflation numbers suggested there would no let up yet in the pace of interest rate rises in the UK.
Spread betting companies are calling London’s blue-chip index down by around 45 points.
US markets ended the day nursing hefty losses lower as weak industrial production and retail sales figures heightened fears that the US was heading into recession.
At the close the Dow Jones Industrial Average was down 614 points, or 1.81%, to 33,297, the S&P 500 fell 62 points, or 1.56%, to 3,929 and the Nasdaq Composite slipped 138 points, or 1.24%, to 10,957.
Michael Hewson at CMC Markets said: “This concern about the economic outlook, along with announcements from the likes of Amazon (NASDAQ:AMZN) and Microsoft (NASDAQ:MSFT) about job losses, saw US markets roll over after European markets had closed, closing sharply lower, as once again the S&P500 failed above the 4,000 level.”
Asian markets were mixed with falls in Japan and Hong Kong and a slight rise in China.
Back in London and trading updates are expected from Boohoo Group PLC (LON:BOOH) and Deliveroo PLC (LON:ROO) amongst others.