UK shares were smashed today
China cut its guiding rate for the yuan for a second day running and the effect on the UK stock market was devastating.
The FTSE 100 fell 1.43%, or 95 points to 6569.36, on concerns a weaker yuan will worsen the commodities rout and deflate corporate profits.
Here's today's chart:
Miners, already battered by the falling price of commodities, were among the hardest hit. Retailers also did poorly.
Glencore was down as low as 5.76%, Tesco fell almost 3%, and Sports Direct dropped as low as 3.86%.
Randgold Resources was an exception, popping up more than 5% on the strengthening gold price.
- A Google engineer found out she had been laid off while she was on vacation when her boss sent her a LinkedIn message
- A laid-off Microsoft software engineer on an H1-B visa said she wonders 'where will I be living' with just 60 days to find a new job
- Laid-off Google employees are turning to a Discord server with nearly 18,000 members for emotional support and financial advice
- Measures in place to address excess volatility: Sebi on Adani crisis
- Revival of rural economy to take time in the absence of triggers: JM Financial
- Logistics startup FarEye lays off 90 employees, 2nd job cut in 8 months
- Vani Jayaram, the voice behind 10,000 songs, passes away at 78
- Not the first time FPO is taken back, won't affect image of the country: FM