By Shubham Batra, Khushi Singh and Pranav Kashyap
(Reuters) -London stocks dropped nearly 2% on Tuesday with its broadest selloff in years on growing geopolitical tensions in the Middle East and reduced expectations of U.S. interest rate cuts, while a slide in Dr Martens (LON:) exacerbated losses.
Britain’s main indexes and witnessed a freefall and tumbled 1.8% each.
The FTSE 100 logged its biggest intraday percentage drop in eight months, with nearly all stocks on the index ending in the red, while for the FTSE 250 the drop was the worst in three months.
Bootmaker Dr Martens slumped 29.4% to a record low after it named a new CEO and flagged a challenging fiscal 2025 on weak U.S. demand. The news pushed the personal goods sector to a 14-year low, falling 5.7%.
Superdry tumbled 23.8% after it launched a turnaround plan that included an equity raise that would take the fashion chain private.
Among other sectors, industrial metal…
