The UK market struggled to find direction on Wednesday with the index hovering around the 6,730 level, just above last night’s closing price.
Yesterday’s US interest rate cut from the Federal Reserve wasn’t deemed enough to help avoid a recession and so investors remain very nervous.
Wall Street experienced a new sell-off on Tuesday with the S&P 500 down 2.8% and the Nasdaq falling just shy of 3%.
“Markets are really worried about how the coronavirus disruption will affect corporate earnings, consumer spending and ultimately economic growth.
“A lot of precautionary measures are being put into place such as more people working from home, yet there are concerns about how that will affect productivity and spending,” says Russ Mould, investment director at AJ