FTSE 100 tumbles as HSBC slips, Apple warns on sales

London's FTSE 100 slid to a two-week low on Tuesday, weighed down by a 4% drop in financial heavyweight HSBC as traders sold stocks globally after tech giant Apple warned of a shortfall in revenue due to the coronavirus epidemic. The main index shed 0.9% by 0804 GMT, with HSBC dragging a sub-index of banks almost 2.5% lower after its annual profit declined and it laid out plans for a major strategic overhaul.

Global market participants poured money into perceived safe havens including gold after the signals from Apple, the world's most valuable technology firm, that sales would be hurt by the outbreak. The more domestically-focussed FTSE 250 also gave up 0.4%.