FTSE 100 Tumbles Amid Global Sell-off

U.K. stocks fell sharply on Thursday after Wall Street suffered its biggest rout since the early months of the pandemic overnight on concerns over high inflation and slowing global growth.

Asian markets followed their U.S. peers their lower and U.S. stock futures pointed to steep losses on Wall Street later in the day on expectations for a more aggressive policy tightening by the Federal Reserve.

The benchmark FTSE 100 fell 165 points, or 2.2 percent, to 7,272 after losing 1.1 percent in the previous session.

Budget carrier easyJet lost 3.4 percent despite reporting second quarter earnings and revenue that topped forecasts.

British Airways owner IAG declined 1.7 percent after it agreed to buy 50 737 Max jets from Boeing Co., expected to be delivered between 2023 and 2027.