LONDON: London stocks rounded the week off with heavy losses amid a global risk-off mood after a weak US jobs report spurred worries on the health of the American economy, while losses in commodity-linked stocks added to the downbeat sentiment.
The blue-chip FTSE 100 index was down 1.3%, while the mid-cap FTSE 250 index slid 3.0% to clock its worst day since September 2022.
The unemployment rate in the US jumped to a near three-year high of 4.3% in July amid a significant slowdown in hiring, heightening fears the labor market was deteriorating and potentially making the economy vulnerable to a recession.
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