FTSE 100 drops to three-month low as surging yields hit risk appetite

UK's FTSE 100 ​fell to a three-month low on Thursday with ​banks leading declines as a sharp ‌rise ​in global bond yields to fresh multi-decade highs fanned inflation concerns and dampened investor sentiment. The blue-chip FTSE 100 index closed down 1.68% at 10,428.7 points, marking ‌its fourth straight day of losses and its biggest one-day decline since May 15, while the midcap FTSE 250 slipped 1.62%.