European markets followed the losses in London’s FTSE
People outside Buckingham Palace in London on September 8, 2022 © Getty Images / Kirsty O’Connor – PA Images / Contributor
European markets lost early gains on Thursday, following news that doctors are concerned about the health of Britain’s Queen Elizabeth II, who is 96.
London’s FTSE 100 index slid 0.35% as of 14:35 GMT. Other major European indexes were also down, with Germany’s DAX dropping more than 1% and France’s CAC falling 0.12%. The pan-European STOXX 600 was down 0.17%, with all major exchanges trading lower.
The markets were also battered by the European Central Bank’s unprecedented rate hike of 0.75% to contain soaring inflation.
The British pound fell slightly against the dollar to $1.1480. At one point yesterday, the sterling plunged to $1.1407, the lowest since 1985.
Buckingham Palace announced on Thursday that the Queen is under medical observation at Balmoral Castle due to health concerns. Immediate family members have been informed and are currently traveling to Balmoral, the Queen’s royal residence in Scotland.
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