Thursday, 11 Jun 2020 05:21 PM MYT
LONDON, June 11 — London stocks fell for the fourth straight day today, hit by fears of a second wave of Covid-19 infections in the United States and a bleak economic outlook by the Federal Reserve. The Fed projected the US economy to shrink 6.5 per cent in 2020 and signalled it plans years of extraordinary support for an economy facing a long road back from the Covid-19 pandemic.
The blue-chip FTSE 100 index slipped 2.5 per cent, with financials and oil and gas stocks falling the most. UK stocks are now set for their first weekly loss in four.
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