London Markets: FTSE 100 drops after rising bond yields spur selloff on Wall Street

U.K. stocks dropped Wednesday, with the blue-chip market’s run of wins at risk after elevated U.S. bond yields triggered a selloff on Wall Street.

How markets are performing

The FTSE 100 index UKX, -0.70% fell 0.5% to 7,388.53, led by losses for commodity and industrial stocks, but health care and consumer goods shares were higher. The London benchmark on Tuesday rose 0.4% to log its sixth consecutive gain, the longest winning streak since mid-May 2017, according to FactSet data. Tuesday’s close also marked the index’s first close above 7,400 since early February.

The pound GBPUSD, -0.0715% bought $1.3939, down from $1.3978 late Tuesday in New York.

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