FTSE 100 tumbles 2.3% at midday as global tech sell-off spreads
Published on 11/06/2026 at 13:31 | Editorial responsibility: Rafael Müller, Editor-in-Chief AD HOC NEWSFTSE 100 falls sharply at midday
- The FTSE 100 stood at 10,542.10, down 2.3% in midday trading on Friday.
- A global technology sell-off followed steep losses on Wall Street and in Asian markets.
- Investors also awaited US employment data and assessed the Bank of England's latest rate increase.
The FTSE 100 fell sharply in midday trading on Friday as a technology-led global sell-off spread from Wall Street and Asia into European markets. The index was down 242.58 points, or 2.3%, at 10,542.10, according to Alliance News. The reading represents an intraday level rather than a closing value.
Technology concerns drive broad retreat
The decline followed a heavy sell-off in US equities on Thursday, when the Nasdaq Composite lost 5.5%. Losses then spread across Asian markets, with stocks in Tokyo and Seoul ending the week down around 6.0%, according to Alliance News.
Investors were reassessing the outlook for artificial intelligence investment after Democrats won control of both chambers of the US Congress in the midterm elections. Market participants were concerned that tighter political scrutiny could slow data-centre development and affect the expected returns on the hundreds of billions of dollars committed to AI infrastructure. Higher borrowing costs added to questions about the financial sustainability of the investment cycle.
Rate policy and US data remain in focus
UK investors were also digesting the Bank of England's decision on Thursday to raise its benchmark interest rate to 4%. Alliance News reported that all nine members of the Monetary Policy Committee supported the increase and that markets were pricing in roughly a 50% probability of another rise in December.
The session's next major scheduled catalyst was the US October nonfarm payrolls report and unemployment rate, followed by the University of Michigan consumer sentiment index. Futures indications cited by Alliance News pointed to a mixed opening in New York, leaving the FTSE 100 exposed to further changes in global risk appetite during the afternoon.
The LSEG describes the FTSE 100 as an index of the 100 largest blue-chip companies listed on the London Stock Exchange. Further coverage is available on the FTSE 100 topic page.
