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European stock markets, after having their worst week in nearly two years, fell sharply again yesterday as investors withdrew their money from risky assets amid ongoing tensions between Russia and Ukraine and the prospect of higher interest rates in the United States.
As investors lost their appetite for risk, the sell-off extended to broader assets including oil. Sterling, too, was unfavorable.
The FTSE 100 fell 196.98 points, or 2.6 percent, to 7,297.15, its biggest one-day drop since the end of November, when the Omicron variable first excited investors. The London Leading Index has fallen in each of the past three sessions and has given up all the gains it made in the opening weeks of this year, down 1.2 per session.
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