World markets report

Markets around the world closed lower yesterday; in London, the FTSE 100 fell 1.9% as banks and miners dragged the index down.

The FTSE 100 fell 1.9% yesterday to close at 5,217, with banks and miners dragging the index down.

Banks took fright at new rules proposed by the Basel Committee on Banking Supervision. Lloyds and Barclays were the worst performers, down 8.1% and 6.2% respectively. HSBC and RBS both lost 3.5%.

Subscribe to MoneyWeek

Subscribe to MoneyWeek today and get your first six magazine issues absolutely FREE

Get 6 issues free
https://cdn.mos.cms.futurecdn.net/flexiimages/mw70aro6gl1676370748.jpg

Sign up to Money Morning

Don't miss the latest investment and personal finances news, market analysis, plus money-saving tips with our free twice-daily newsletter

Don't miss the latest investment and personal finances news, market analysis, plus money-saving tips with our free twice-daily newsletter

Sign up
MoneyWeek

MoneyWeek is written by a team of experienced and award-winning journalists, plus expert columnists. As well as daily digital news and features, MoneyWeek also publishes a weekly magazine, covering investing and personal finance. From share tips, pensions, gold to practical investment tips - we provide a round-up to help you make money and keep it.