LONDON: British stocks clocked their worst day since late October on Tuesday after a sudden drop in big US tech stocks over inflation concerns, while shares of THG Plc eyed their best day on record on raising more than $1 billion in new equity.

The blue-chip index slid 2.6%, dragged down by heavyweight banks, life insurers and miners.

All the FTSE 100 constituents were trading in negative territory.

The domestically focused mid-cap FTSE 250 index tripped 2.3%.

Travel and leisure stocks slipped 4.0%, with British Airways owner IAG falling the most, after it launched an 800 million euro ($971.52 million) convertible bond due in 2028 to strengthen its balance sheet.

The FTSE 100 has gained about 7.2% year-to-date on optimism that speedy COVID-19 vaccinations and constant policy support from the government would drive a stronger economic recovery.

Beauty and lifestyle e-commerce company THG surged 11.7% after it raised more than $1 billion in new equity, including $730 million from Japan's Softbank Group.

NatWest slid 3.5% after the UK government completed a 1.1 billion pound ($1.55 billion) share sale at a discounted price.