FTSE Slips at Start of December as Global Markets Turn Cautious
UK and US equities began December on a softer note, with investors eyeing a heavy month of economic data releases and central bank decisions.
The FTSE 100 edged 0.2% lower to finish at 9,702.53, while the mid-cap FTSE 250 fell 0.7% to 22,020.68 amid muted risk appetite across European markets.
Across the Atlantic, Wall Street’s major indices also moved lower as traders awaited a speech from Federal Reserve chairman Jerome Powell later in the session. Investors are looking for clues on the outlook for interest rates and the timing of any potential policy shift.
The cautious tone marked a subdued start to the final trading month of the year, with sentiment tempered by lingering macroeconomic uncertainty.
Bitcoin Drops Below $85,000
Bitcoin fell sharply, sliding more than 7% to $84,966 as sentiment across digital asset markets continued to deteriorate. Over the past month, Bitcoin has dropped 23%, while Ether has fallen 29% and XRP is down 25%.
The latest decline comes despite rising expectations of a Federal Reserve rate cut in December, signalling that selling pressure in crypto remains firmly entrenched.
