FTSE 100 Steadies as UK Stocks Navigate US Fed Drama

London stocks managed to stabilize on Wednesday, just a day after apprehensions regarding the independence of the U.S. Federal Reserve sent shockwaves through global risk assets.

The blue-chip FTSE 100 held its ground at 9269.3 points by 1009 GMT, recovering from Tuesday's 0.6% decline. The drop followed U.S. President Donald Trump's decision to fire Federal Reserve Governor Lisa Cook, a move that her lawyer plans to challenge legally.

In sectoral movements, personal goods led gains among FTSE's top sub-sectors, rising by 1.3%, while utilities advanced by 1.1%. Notably, heavyweight banks experienced a 1% drop, marking a two-day slump, while leading pharmaceutical companies gained 0.7%. Investor attention is now shifting to Nvidia's anticipated earnings report due later.