With the expectation of a rise in inflation in the U.S, stock markets worldwide took a nosedive with major US indexes falling more than one percent on Tuesday.
Meanwhile, European bourses saw steep declines on fears among traders that rising consumer prices could push up interest rates.
The UK’s benchmark share index, the FTSE 100, closed 2.47 per cent lower.
The index has retreated below the 7,000 mark to 6,947.99 after hitting a post-pandemic high of 7,164 on Monday.
Readers Bureau, Contributor
Edited by Jesus Chan
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