FTSE 100 turns sharply lower
Last week saw the FTSE 100 shed most of the ground gained in the second half of September, in a classic demonstration of markets ‘taking the stairs up, but the lift down’.
Friday’s low of 7296.1 is the first area to watch, and then support at 7279, followed by the September lows around 7225. Intraday rallies will need to be closely watched. If a short-term bounce fails to recover 7400 then there is likely further downside ahead.