FTSE 100 falls 1.3% as markets drop; retail sales hit by Omicron –

European stock markets have dropped deeper into the red, with the FTSE 100 now down 98 point, or 1.3%, in late trading.

After a torrid start to the year, analyst Dan Ives of Wedbush predicts tech stocks could turn the sentiment around….

The US stock market has dropped, as the selloff in tech stocks yesterday continues to weigh on equities.

The S&P 500 index of US listed companies took an early hit, and is currently down 14 points, or 0.4%, at 4,468 points, taking its losses so far this year over 6%.

Netflix is the top faller, tumbling by 25% after shocking Wall Street by predicting that new subscriber growth will fall to its lowest in over a decade this quarter.

Walt Disney, which runs rival streaming service Disney+, has dropped by over 6%

The Nasdaq Composite index sunk deeper into correction territory, down 1.4% at one stage, but it’s now off 0.5%.

Communications, energy and materials are the worst-performing sectors, while consumer staple goods and real estate are higher.

The Bank of England must lean against inflation pressures and stop expectations of higher price growth from getting entrenched, policymaker Catherine Mann…