 | Unexpected rise in US job openings sparks steep sell-off 2) Tory party treasurer calls for higher taxes on people living in most expensive houses | Lord Leigh calls for new council tax bands for mansions and penthouses 3) West Midlands mayor launches last-ditch attempt to rescue HS2 | Private funding proposed as Rishi Sunak expected to axe northern leg of troubled rail project 4) Restaurant tycoon ordered to rip out windows of £40m Kensington mansion | Ivy owner Richard Caring loses battle with local council over 'incongruous and dominant windows' 5) Household gas bills expected to rise under heat pump rollout | Green levy shift to gas considered in effort to discourage traditional boiler use What happened overnight Asian markets were sharply lower after Wall Street tumbled amid surging bond yields caused by a surprisingly strong job market, triggering concerns that interest rates will stay high. Tokyo's Nikkei 225 index sank 2.2pc to 30,551.85 and the Kospi in South Korea dropped 2.3pc to 2,408.68. Hong Kong's Hang Seng skidded 1pc to 17,151.61. Troubled property developer China Evergrande was down 8.5pc after plunging 28pc on Tuesday. Australia's S&P/ASX 200 shed 1pc to 6,873.90. In Bangkok, the SET fell 0.2pc. Wall Street stocks fell on Tuesday as US bond yields surged to 16-year highs amid fresh concerns that the Federal Reserve will need to keep interest rates higher for longer. Stocks fell after a report showed US employers have many more job openings than expected. Expectations that interest rates will stay high are pressuring stocks as Treasury yields rise in the bond mark){kind=link}
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The FTSE 100’s slump has deepened as oil giants were hit by the bond market sell-off.
The UK’s blue-chip index, which is heavily weighted toward energy, fell more than 1.15pc in afternoon trading, while the midcap FTSE 250 tumbled as much as 1.38pc today.
The FTSE 100 was dragged down by heavy falls in oil majors Shell and BP, which were down 2.2pc and 3.3pc respectively amid falling oil prices.
The internationally-focused index narrowed its losses at the last minute, closing 0.77pc lower at 7,412.45. The FTSE 250 ended down 1.05pc at 17,492.90.