FTSE 100 plunges as trade worries fuel selloff

London's main index shed 1% in early deals and joined a global market selloff on Monday, as U.S.-China trade tensions sent investors rushing to safe-haven assets, while Ocado and M&S slipped after setting up an online food joint venture. The FTSE 100, which had slumped more than 2% on Friday, sank to a more than seven-week low with all constituent sectors in the red by 0708 GMT. The mid-cap FTSE 250 fell 0.9%.

Retailer Marks & Spencer and online supermarket Ocado gave up about 2.5% each after sealing a deal to set up an online food venture that will result in the termination of Ocado's current deal with Waitrose.