Breaking: London stock exchange hits 28-month low

Stocks are falling in London, as traders rush to sell following last night's hike in US interest rates. It's the worst performance since Sept 2021.

When the markets opened for trading the FTSE 100 shed 119 points (1.6%), that is a new 28-month low of 6646 points.

Over in america, Wall Street stocks slumped on Wednesday after the Fed lifted rates of interest, sending major indices to fresh 2021 lows, even as the united states central bank signaled it expects slower rate increases the coming year.

More to follow…