By Pranav Kashyap and Purvi Agarwal
(Reuters) -London’s FTSE 100 fell 1% on Tuesday, weighed down by financial stocks tracking broder losses in European markets as political uncertainty spooked investors and weakness in industrial miners further weighed on the market.
The benchmark FTSE 100 index’s decline marked its worst day in nearly two months while the mid-cap FTSE 250 index slipped 0.9% after touching its lowest in over a month.
Non-life insurers fell 2.7%, the worst hit sector, while bank stocks lost 2.3%.
“What we are seeing is a knock-on effect about the political uncertainty emanating from France that has affected banking stocks,” said Susannah Streeter, head of money and markets at Hargreaves Lansdown.
“There is a real concern (that) the far right parties are enjoying a surge of popularity across Europe and with their more populist policies, which is a higher spending, that has led to concerns for the financial sector,” she…
