Shares in London this morning followed Wall Street lower as trading in the UK re-opened after a four-day 2018 Easter break.
New York ended Monday sharply lower after its own stock-market holidays came to an end. Two key factors propelling the losses were negative sentiment towards the price of technology stocks and fears of a US-triggered global trade war.
Hardest-hit was the Nasdaq index, which showcases a number of tech stocks. It lost 2.74 per cent at 6,870.12.
Bearish sentiment spread to Japan and the Far East when trading opened earlier today. In Tokyo, the Nikkei 225 index was 0.45 per cent lower at 21,292.29, while in Shanghai the SSE Composite index was down a more modest 0.18 per cent at 3,163.18.
Bucking the trend was the Hang Seng index in Hong Kong, which was 0.44 per cent higher at 30,224.68.
New York’s selling bout followed a three-day market holiday for Easter 2018, Good Friday followed by the weekend. London this morning was open after four days, as Monday was a bank holiday in the UK.
In both cases, the end of the market holidays 2018 seems to have unleashed selling pressure that built up while exchanges were shut.