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Evening Standard
Evening Standard
Business
City Staff

FTSE 100 Live: Stock markets weaker, house market ‘losing momentum’

Investors remain on the sidelines after recession and interest rate fears led to more heavy selling for stock markets today.

The FTSE 100 index lost almost 2% of its value over August, with the UK-focused FTSE 250 down by 5.5% amid the weakening economic outlook. The pound has also fallen to below $1.16.

Despite inflation and higher borrowing costs, Nationwide said the UK’s average house price grew 0.8% month-on-month in August and is 10% higher over the past year. However, the building society said there are signs the market is “losing some momentum”.

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