Good morning.
The FTSE 100 is set to fall as much as 1pc in early trading after Asian stocks fell sharply overnight on fears about China’s growing regulatory crackdown as well as ongoing concerns about rising delta variant cases.
Michael Hewson, chief analyst at CMC Markets, said: “Further weakness in Asia markets over increasing uneasiness about China’s regulatory crackdown as well as the uncertainty over rising Delta cases looks set to feed into further uncertainty as we look towards a lower European open.”
Federal Reserve minutes released last night pointed to a reduction in stimulus support later this year, which markets have anticipated. Stocks have endured a tough week so far and will be looking ahead to the Fed’s Jackson Hole Symposium next week for more details of a slowdown in US asset purchases.
5 things to start your day
1) Kwarteng bans Ultra Electronics from sharing national security secrets: Unprecedented order will stop submarine equipment firm giving sensitive details to US private equity bidder.
2) Chinese buyer of Welsh chip factory warns investors deal…
