Proactive Investors -
- FTSE 100 closes 21 points lower
- US stocks under pressure ahead of tech results
- AB Foods (LON:ABF) falls as cost pressures dent margins
4.40pm: FTSE finishes lower
The UK's main index slipped below the 7,900 benchmark to finish at 7,891 points on Tuesday.
Stocks traded lower in the afternoon as a warning from UPS and lower oil prices raised recession fears, said Chris Beauchamp, chief market analyst at online trading platform IG.
“Investors continue to trim exposure to stocks as this week’s earnings barrage gets underway. UPS’ forecast of a weaker economy is just the kind of warning investors don’t want to hear, and has likely prompted a round of selling on renewed recession fears," Beauchamp said.
"With so much riding on this week’s figures, caution is still the watchword. US regional banks are under pressure again too, another sign that the rally’s foundations are weakening.”