FTSE 100 Live 19 December: Index set for big fall, BoE rates decision due
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The FTSE 100 index is seen falling more than 1% after 2025 projections by the US Federal Reserve caused Wall Street markets to slide last night. The Dow Jones Industrial Average reversed 2.6% to register its tenth straight fall, while the S&P 500 index fell 3% from record territory and the Nasdaq Composite tumbled 3.6%.
The selling followed a quarter point interest rate cut by the US central bank, which was accompanied by charts showing only two such moves next year. Futures trading suggests that the FTSE 100 index will fall 98 points to 8101. Last night’s developments boosted the dollar to leave the pound at $1.259 ahead of today’s expected no change on interest rates decision by the Bank of England.
