FTSE 100 sees £48bn wiped off value as fresh inflation fears prompt global markets plunge

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Britain's leading share index has plunged sharply into the red for the second time this week as inflation fears grip global stock markets

In London, heavyweight fallers at Thursday's open included mining giants Anglo American and Rio Tinto and oil majors Shell and BP.

Russ Mould, investment director at AJ Bell, said:"Yesterday's US inflation shock fuelled the growing belief that central banks will have to take action sooner rather than later when it comes to raising interest rates. which was in part prompted by Chinese data showing a higher than expected increase in factory gate prices - seen as another inflation warning light.

 

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