London Stocks Slip Amid Federal Reserve Uncertainty
The FTSE 100 index ended slightly down, influenced by concerns over the U.S. Federal Reserve's independence. Trump fired Fed Governor Lisa Cook, prompting legal action. London markets faced turbulence despite high indices last week. Banks and mining stocks dipped, while personal goods and JD Sports performed well.
On Wednesday, London's FTSE 100 index finished marginally lower, dragged by heavyweight financial stocks amid investor concern over the U.S. Federal Reserve's independence.
This downturn follows President Trump's abrupt dismissal of Federal Reserve Governor Lisa Cook, a move contested legally by Cook. Financials, including NatWest, were prominent decliners.
Despite recent highs, the UK market faced two consecutive days of downturn, exacerbated by a bank holiday. Bucking the trend, personal goods and JD Sports showed recovery, while Prudential announced a $1.1 billion buyback, despite a share price dip.
(With inputs from agencies.)
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