A speech by Federal Reserve boss Jerome Powell erased all of the gains made this morning by London’s top flight.
The FTSE 100 is flat right now, having been up 60 points for the day in the early afternoon, after Powell’s speech was seen as hawkish.
Markets are fearful that borrowing costs will stay high for longer, potentially jeopardising a soft landing for the US economy.
In London, shares in CMC Markets have fallen after it said subdued conditions meant profit could be £30 million less than forecast.
