Virus, inflation woes send FTSE 100 to two-month low

The FTSE 100 fell to a two-month low on Monday on concerns that a spike in coronavirus infections could derail a nascent economic recovery, while a recent surge in inflation raised fears of a quicker tapering in global monetary stimulus.

The FTSE 100 fell to a two-month low on Monday on concerns that a spike in coronavirus infections could derail a nascent economic recovery, while a recent surge in inflation raised fears of a quicker tapering in global monetary stimulus. The blue-chip FTSE 100 was down 1.4% by 0709 GMT, with BP and Royal Dutch Shell tracking a slide in oil prices.

Mining and financial stocks were also among the biggest decliners. No single FTSE 100 stock posted gains in early trading. The mid-cap FTSE 250 tumbled 1.1% as Prime Minister Boris Johnson lifted most restrictions in England in what some have dubbed "Freedom Day" despite a new wave of COVID-19 cases.

Travel-related stocks sank for the fifth time in six days as the surge in infections raised the specter of new travel curbs. British Airways owner IAG and InterContinental Hotels fell more than 2.5% to the bottom of the FTSE 100.

(This story has not been edited by Devdiscourse staff and is auto-generated from a syndicated feed.)