Home Business NewsCoronavirus affects investors as FTSE 100 hits six-week low

Coronavirus affects investors as FTSE 100 hits six-week low

by LLB Reporter
28th Jan 20 9:19 am

The FTSE 100 saw a six-week low on Monday as investors were selling over fears and the impact of the coronavirus.

The blue-chip index suffered a serious blow falling 173.93 points, down by 2.29% to 7412.05, only four of the 100 listed firms closed up.

The German Dax 30 was down 2.75% and the French Cac 40 lost 2.68%. Brent Crude fell 2.87% to $58.92 a barrel at the close of the stock market.

Connor Campbell, financial analyst at SpreadEx, said: โ€œPrior to the outbreak, this week would have been notable for Mark Carneyโ€™s final meeting as Bank of England governor, an outing that could see the MPC cut interest rates, alongside the UKโ€™s long-trailed withdrawal from the EU.

โ€œInstead it looks like those major macro events may end up as background noise to the market-tanking concerns surrounding the virus, and the potential impact it will have on the Chinese, and therefore global, economy.โ€

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